AUD/USD Spending a Lot of Time Pressing Significant Trendline
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The longer that the AUDUSD spends trading around the trendline from the 2011 highs, the more one must consider the possibility of an upside breakout. It’s a waiting game right now but ideally we get an answer regarding the larger trend with this week’s close.
FOREXTrading Strategy: Went flat today as being long USD just didn’t feel right with the EURUSD and GBPUSD reversals.
LEVELS: 1.0260 1.0310 1.0385 1.0500 1.0543 1.0600
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