AUDUSD Eyes Year to Date Low at 10145

Daily Bars

Prepared by Jamie Saettele, CMT

Last week’s commentary was “I favor selling rallies into 10430//60/90 with a stop above 10550. Use stops lest you get caught in a 2nd wave correction back to 10650. Eventual bearish objectives are 10220 and 10145.” The AUDUSD traded to 10300 today before recovering slightly. Risk can be moved down to 10460 and focus remains on early year pivot lows at 10230 and 10145 (YTD low).

Bottom Line (next 5 days) – lower