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AUDUSD 2 Year Trendline is Below Parity This Week

AUDUSD 2 Year Trendline is Below Parity This Week

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD 2 Year Trendline is Below Parity This Week

Prepared by Jamie Saettele, CMT

I’m looking towards the trendline that extends off of the May 2010 and October 2011 lows. That line is at about 9970 this week. Another level of interest is the December 2011 low at 9860 (in line with the July 2008 top at 9849). 10100/30 is resistance and the most aggressive short term count is bearish against Monday’s 10218 high.

Ideas: short into 10100/30, stop 10250, target 9860

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

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