AUDUSD 200 Day Average of Interest at 10405
Prepared by Jamie Saettele, CMT
We’ve been using Monday’s high as our pivot and looking towards 10400/50. The AUDUSD has entered the sought support zone. Support extends slightly below current levels to the 200 day average (10405) and channel (10385 on Thursday). Remember, the 4th wave interpretation remains valid so a sharp reversal is possible from near current levels. Exceeding 10575 would suggest that a low is in place. Until then, price is vulnerable. Resistance for Thursday is 10485.
Bottom Line (next 5 days) – bottoming?
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