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AUDUSD Doji at Confluence of Resistance

AUDUSD Doji at Confluence of Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Doji at Confluence of Resistance

Prepared by Jamie Saettele, CMT

The AUDUSD has reached the bottom of the “10225/10240 area (April low, 50% retracement of decline from February high, 100% extension of rally from 9580 and 13 week average) but also held 10130 support today. We may be in for a topping process over the next several days in the guise of a 4th wave drop into 10075-10100 before the final high.

LEVELS: 10010 10055 10130 10225/40 10305 10370

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