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