AUDUSD is Bullish above 10293
Prepared by Jamie Saettele, CMT
The AUDUSD had no problem with the 38.2% retracement or trendline resistance and ended the day on the highs and right at the 50% retracement of the decline from the top. The 10/1 high at 10402 is significant because a rally through that level would eliminate the bearish monthly opening range break and open things up for a run at 10624 albeit with 10442 and 10550 providing resistance along the way. Bullish risk is moved to 10270.
LEVELS: 10293 13025 10363 10402 10442 10550
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.