Australian Dollar Correction Could Reach mid 10600s

Daily Bars

Prepared by Jamie Saettele, CMT

I wrote yesterday that “at some point, this incredibly consistent advance will be interrupted by a sharp decline. Trying to predict when that decline will occur is a fool’s game. Rather, wait for the decline and align with the larger bull move. 10690 is likely support in the event of a larger sell off.” Today’s doji may signal that a decline (although probably in a 4th wave) is about to commence. 10690 remains probable support.

Bottom Line – flat