AUD/USD Threatening Significant Breakdown
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The AUDUSD closed the week below the line that extends off of the October and December lows. 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 warrant a bearish breakout strategy towards 9700.
FOREXTrading Strategy: Short a break below 10344 against 10476.
LEVELS: 10287 10360 10401 10476 10554 10598
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