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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
AUDUSD Focus is Below Parity

AUDUSD Focus is Below Parity

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Focus is Below Parity

Prepared by Jamie Saettele, CMT

The AUDUSD is clear cut; 5 waves down from 10328 and 3 waves up from 10154 set the stage for a sharp 3rd (or c wave) decline. Levels of interest are 10070 (100% extension) and 9970 (161.8% extension and 6/25 low). I favor the more bearish 3rd wave interpretation (first objective 9970) as per my outlook for equities. To be sure, shorting risk in a low volatility environment is difficult to do psychologically but the setup is clean.

LEVELS: 9970 10070 10125 10210 10245 10285

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