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AUDUSD Slowly Inching Towards Edge

AUDUSD Slowly Inching Towards Edge

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Slowly Inching Towards Edge

Prepared by Jamie Saettele, CMT

The AUDUSD continues to trade lower intraday, threaten to break, and then drift higher to close in the middle of its range. Frustrating to say the least, 10464 remains 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 and below. Resistance for Wednesday is 10330/60.

Bottom Line (next 5 days) – lower

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