AUDUSD Rally is 2nd Largest in 2012
240 Minute Bars
Prepared by Jamie Saettele, CMT
The AUDUSD rally today was the 2nd largest of 2012 (today’s 1.37% advance was 2nd to the 1/3 advance of 1.42%). The day ended with price right at the underside of the former support line and just shy of the April high (10464). From a risk standpoint, 10464 is the bearish line in the sand for me. Exceeding that level would shift focus to former supports at 10509 and 10597. 10375-10400 is short term support tonight
Bottom Line (next 5 days) – topping/lower?
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.