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AUDUSD Breakdown Towards Parity Begins

AUDUSD Breakdown Towards Parity Begins

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Breakdown Towards Parity Begins

Prepared by Jamie Saettele, CMT

Shorts were taken this morning (posted via Twitter @JamieSaettele) above 10400. The AUDUSD had little trouble slicing through 10280 and the next level that could produce consolidation / intraday correction is the 38.2% retracement of the rally from the June low at 10225 (10219 is also the close of the reversal bars from 9/6 on the 240 and 480 minute charts). Focus is ultimately on the Fibonacci confluence and 6/25 low just below parity.

LEVELS: 10100 10165 10219 10290 10325 10347

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