FOREX Technical Analysis: AUD/USD Little Changed after Opening Year Surge
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: As long as the AUDUSD is below 10585, it’s worth keeping in mind the longer term AUD/USD triangle, in which price may decline towards parity or below in order to complete triangle wave E. COT data reveals a sentiment extreme as well.
FOREXTrading Strategy: From yesterday – “Shorting today’s rally offers great reward/risk against 10585.”
LEVELS: 10375 10408 10435 10475 10523 10553
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.