News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
AUD/USD Responds to 78.6% Level

AUD/USD Responds to 78.6% Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUD/USD Responds to 78.6% Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: Most recent comments were that “momentum on this move suggests the AUDUSD may spend some more time up here before rolling over for the next wave down. There are sure to be some false tops put in before wave 3 or C towards parity and below commences.” The reversal at the 78.6% retracement and subsequent drop below Monday’s low is a good start for a drop into at least 1.0305/45.

FOREXTrading Strategy: Short, stop on daily close above 1.0500, target 1.0310

LEVELS: 1.0260 1.0310 1.0342 1.0500 1.0543 1.0597

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

DISCLOSURES