AUD/USD Monday Reversal Warrants Change in Short Term Bias
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: Recent evidence, including Monday’s reversal and rejection of the October low, suggests that the AUDUSD is taking a pause from the decline that began in January. Expectations are that the advance proves corrective but could carry back to 1.0374 (former 4th wave) or 1.0413 (61.8% retracement).
FOREXTrading Strategy: Flat
LEVELS: 1.0080 1.0114 1.0182 1.0289 1.0340 1.0374