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AUD/USD Bearish Risk is Moved Down to 10350

AUD/USD Bearish Risk is Moved Down to 10350

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_aud-usd_body_audusd.png, AUD/USD Bearish Risk is Moved Down to 10350

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: It’s possible that this is the beginning of the larger AUDUSD triangle E wave towards 9800-9900. The most aggressive AUDUSD target is 9700. This objective is reached by extending the 10148-10598 range from 10148 (10148 needs to break first of course). Potential supports ahead of 10148 are 10287, 10235, and 10192.

FOREXTrading Strategy: Downside risk has been minimized to 10350.

LEVELS: 10148 10192 10230 10315 10350 10415

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

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