AUDUSD Trickles Lower – January Pivots in Focus
Prepared by Jamie Saettele, CMT
Focus remains on early year pivot lows at 10230 and 10145 (YTD low). As mentioned this morning, December pivots at 10043 and 9860 would come into play if ‘risk really falls out of bed’. 10145 intersects the downward sloping line that extends off of the 3/15 and 3/22 lows on Friday and being the YTD low, one would expect a reaction (short covering) if reached. Resistance for Thursday is 10290/10300.
Bottom Line (next 5 days) – lower
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