AUD/USD Breaks Lows; Sights on Measured Level
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: “The false break last week reinforces the idea about the AUDUSD correcting its momentum and sentiment primarily through time and also that the bigger trade is probably still short. The range of a bit more than 300 pips (.8997-.9317) can be used to estimate the extent of the next move.”
FOREXTrading Strategy: Too late to chase for me but an objective is .8677 (see above explanation for that target).
LEVELS: .8677 .8800 .8910 .9009 .9100 .9128
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.