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AUDUSD Drifts Higher Before RBA Minutes

AUDUSD Drifts Higher Before RBA Minutes

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Drifts Higher Before RBA Minutes

Prepared by Jamie Saettele, CMT

The AUDUSD continues to drift higher after trading to 20 day lows on 10/8. The technical condition is similar to December 2007 and February 2010 with respect to short term volatility figures and price rebounding from 20 day lows. In both instances, the AUDUSD continued higher. 10330/50 (former support, 38.2% retracement, 20 day average) is of interest as long as price is above 10148. Weakness below 10048 would set sights on 9968/79.

LEVELS: 10100 10148 10219 10293 10330 10402

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