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AUDUSD Resistance at 10350

AUDUSD Resistance at 10350

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Resistance at 10350

Prepared by Jamie Saettele, CMT

Focus remains on the year to date low at 10145. This level intersects the operative channel tomorrow/Monday. A break below the channel would suggest that a 3rd wave impulse is underway towards December pivots at 10043 and perhaps 9860 (161.8% extension is in the middle of those levels but I place more importance on prior pivtos than Fibonacci). 10350 is resistance.

Bottom Line (next 5 days) – lower

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