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AUDUSD Pressing Short Term Support Line

AUDUSD Pressing Short Term Support Line

2012-06-28 21:14:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 Minutes Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Pressing Short Term Support Line

Prepared by Jamie Saettele, CMT

The AUDUSD pop into 10125, which was the 61.8% retracement to the pip of the 10223-9968 decline, most likely completes a corrective rally and near term focus is lower towards 9900 (50% retracement of advance from 9580 and 5/29 high) and 9850 (100% extension of 10223-9968 decline). 10060/90 serves as resistance for Friday. I’ve maintained throughout the week that I’m unlikely to get aggressive until next week (month and quarter end considerations) but the current setup is awfully compelling.

LEVELS: 9820 9920 9970 10060 10090 10125

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