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AUDUSD Stalls in Front of November Low

AUDUSD Stalls in Front of November Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Stalls in Front of November Low

Prepared by Jamie Saettele, CMT

The AUDUSD reversed just shy of its November low at 9663 on Thursday. The goal for June should be to align with the larger bear trend, which is difficult to do psychologically given the extent of the decline. 9800 and 9900/50 are resistance. We’ll deal with targets when we get there but a downward sloping channel is at about 9115 this month.

LEVELS: 9387 9500 9660 9800 9900 9975

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