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AUDUSD Near Term Focus is on 10200

AUDUSD Near Term Focus is on 10200

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Near Term Focus is on 10200

Prepared by Jamie Saettele, CMT

“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.” Price ideally stays below Monday’s high (10384) on its way towards 10225. Be aware of CPI tonight (930 pm EST). Expect support on a negative reaction just under 10225. Exceeding 10390 would negate the bearish bias.

Bottom Line (next 5 days) – lower

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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