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 Inches Higher off of Support

AUDUSD Inches Higher off of Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Inches Higher off of Support

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).” The low has held for 2 days now and the AUDUSD is approaching potential resistance from 10274 and 10330. I’m on the lookout for short entries above near the latter level.

LEVELS: 10100 10148 10174 10274 10330 10402

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

DISCLOSURES