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FOREX Technical Analysis: AUD/USD Trades Through December High

FOREX Technical Analysis: AUD/USD Trades Through December High

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

FOREX_Technical_Analysis_AUDUSD_Trades_Through_December_High_body_audusd.png, FOREX Technical Analysis: AUD/USD Trades Through December High

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The AUDUSD traded through the December high, negating anything bearish in the near term. The September high is now of interest at 10624. Just as important is the intraweek break above the trendline that extends off of the 2011 (July) and 2012 (March and December) highs.

FOREXTrading Strategy: Wait to see how the week closes before deciding whether or not to go with this rally.

LEVELS: 10496 10527 10564 10624 10730 10856

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.