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AUDUSD Bullish Risk Moved to 10200

AUDUSD Bullish Risk Moved to 10200

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Bullish Risk Moved to 10200

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.” Bullish risk can be moved to Monday’s low (10200). Buying at current levels is viewed as high risk however with the presence of trendline resistance. 10235 is potential support.

LEVELS: 10148 10200 10235 10293 10330 10402

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