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AUDUSD in Limbo at Current Level

AUDUSD in Limbo at Current Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD in Limbo at Current Level

Prepared by Jamie Saettele, CMT

“The AUDUSD has rebounded after gapping lower to open the week. Focus throughout October is lower towards 9968/80 (6/25 low and 61.8% retracement of rally from 9580) and 9900 (5/29 high) but respect potential for a more pronounced bounce into 10274 (10/5 high) or 10330 (38.2% retracement and former support). Weakness below the Monday low would warrant a breakout strategy towards the mentioned levels against the intervening high for the week (so far that high is 10247).”

LEVELS: 9968 10100 10148 10247 10274 10330

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