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Australian Dollar Correction Could Reach mid 10600s

Australian Dollar Correction Could Reach mid 10600s

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, Australian Dollar Correction Could Reach mid 10600s

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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