AUD/USD Carving Near Term Low?
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: The late day AUDUSD recovery (circled) and response at .8900 opens up the potential for additional range trading. From a pattern perspective, movements since the August low are corrective (3 waves up and 3 waves down) which raises the possibility of a triangle or flat.
FOREXTrading Strategy: Flat
LEVELS: .8847 .8891 .8931 .9026 .9058 .9110
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.