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AUD/USD Rallies into Trendline from May and July Highs

AUD/USD Rallies into Trendline from May and July Highs

2013-08-08 23:57:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_aud-usd_body_audusd.png, AUD/USD Rallies into Trendline from May and July Highs

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The AUDUSD has a lot to get through at the current level. The line that extends off of the May and July highs, 20 day average, and former support (7/24 and 7/25 lows) reside at the current level. The 61.8% of the drop from 7/24 reinforces at .9138. The 78.6% is worth a mention at .9217

FOREXTrading Strategy: Flat

LEVELS: .8847 .8928 .9022 .9137 .9217 .9317

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