AUD/USD to Tumble in March?
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: It’s a waiting game with the AUDUSD. Each drop is followed quickly by congestion with the net result being a grind lower. Keep in mind recent comments that “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).” Weakness may accelerate with price below the 200 day average.
FOREXTrading Strategy: Bearish below 10340, targeting 10000 and 9700…also playing Aussie weakness through GBPAUD.
LEVELS: 10080 10148 10182 10289 10340 10374
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