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FOREX Technical Analysis: AUD/USD Trades Through 3 Month Trendline

FOREX Technical Analysis: AUD/USD Trades Through 3 Month Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, FOREX Technical Analysis: AUD/USD Trades Through 3 Month Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: The AUDUSD closed below the line that extends off of the October and December lows today. It’s possible that this is the beginning of the larger triangle E wave towards 9800-9900. Still, price remains above the latest swing low of 10344. Weakness below there would be enough to adopt a bearish bias. 10443/68 is resistance.

FOREXTrading Strategy: Flat

LEVELS: 10287 10344 10374 10438 10485 10527

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

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