AUDUSD Closes at 200 Day Average
Prepared by Jamie Saettele, CMT
Last night’s comments were “trend indicators are starting to turn bearish. The 20 day average exhibits negative slope, and is on the verge of crossing the 50 day average. It would be foolish to dismiss this bearish evidence.” I favor going with the break to March lows. Resistance is 10420 and risk should be kept to 10530. Near term bearish objectives are 10200 (100% extension of 10856-10423 decline) and 10145 (January low).
Bottom Line (next 5 days) – lower
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