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FOREX Technical Analysis: AUD/USD Confined to Tight Range for 4th Day

FOREX Technical Analysis: AUD/USD Confined to Tight Range for 4th Day

2012-11-30 00:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

FOREX_Technical_Analysis_AUDUSD_Confined_to_Tight_Range_for_4th_Day_body_audusd.png, FOREX Technical Analysis: AUD/USD Confined to Tight Range for 4th Day

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: No change: “10550, the 9/14 reversal day close and 161.8% extension of 10287-10424, is a level that may produce the next top. It’s worth keeping in mind the longer term AUD/USD triangle, in which price probably declines towards parity or below in order to complete triangle wave E.” 10550 would be a level to short if reached.

FOREXTrading Strategy: Exceeding 10490 would delay anything bearish until probably 10550.

LEVELS: 10340 10375 10415 10467 10490 10550

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