News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
AUDUSD Creeps into Late April and Early May Levels

AUDUSD Creeps into Late April and Early May Levels

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Creeps into Late April and Early May Levels

Prepared by Jamie Saettele, CMT

The AUDUSD finished the first half of 2012 at nearly the exact same levels as it began 2012 (first day of year close was 10232 and Friday’s close was 10240). Price is now at early May highs but resistance extends to the 61.8% retracement of the decline at 10368. The 61.8% extension of the 9580-10224 rally from 9968 is at 10366 and the 12/8/11 high is just above at 10379. In other words, expect a reaction off of 10370/80 if reached. I’m on the lookout for a top and reversal. Daily RSI highlights the importance of the next move.

LEVELS: 10075 10125 10210 10300 10370/80 10400

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

DISCLOSURES