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AUDUSD Holds Wednesday Low in Range Trade

AUDUSD Holds Wednesday Low in Range Trade

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Holds Wednesday Low in Range Trade

Prepared by Jamie Saettele, CMT

10805/55 remains of interest in the weeks ahead for the AUDUSD but near term focus is on identifying completion of the decline from 10624. Tuesday’s low has held but a drop below wouldn’t negate the larger bullish bias (I’ve tightened my stop today to the Wednesday low but the larger bias remains bullish above 10320) and encounter support at 10367/10400.

LEVELS: 10320 10367 10400 10485 10550 10624

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