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AUDUSD Inside Day at Bottom of Range

AUDUSD Inside Day at Bottom of Range

2012-03-13 23:10:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Inside Day at Bottom of Range

Prepared by Jamie Saettele, CMT

The AUDUSD traded below 10509 Monday morning before finding bottom at 10473. Use Monday’s high as the pivot. In other words, a drop to the low 10400s or even channel support below 10400 is possible as long as price is below 10575. Exceeding 10575 would suggest that a low is in place.

Bottom Line (next 5 days) – bottoming / higher?

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