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AUD/USD-Watch for Intersection of Measured Level and Trendline This Week

AUD/USD-Watch for Intersection of Measured Level and Trendline This Week

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_audusd.png, AUD/USD-Watch for Intersection of Measured Level and Trendline This Week

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

FOREXAnalysis: While possible that an important low is in place for the AUDUSD, one more low is possible. Action since 5 am on 6/20 could compose a 4th wave flat correction in which case the AUDUSD would top before .9433 and register one more low before a sharp reversal. Make no mistake, we are close and I want to be long…but timing is critical (always is). Friday’s weekly includes additional AUDUSD details.

FOREXTrading Strategy: Looking for a low next week….watch the S&P 500 if it gets to 1550, especially if on Monday. This setup was discussed in detail during Friday’s DailyFX PLUS webinar.

LEVELS: .9114 .9165 .9238 .9290 .9340 .9380

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

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