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AUD/USD Large Outside Day Reversal from Resistance

AUD/USD Large Outside Day Reversal from Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_audusd.png, AUD/USD Large Outside Day Reversal from Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-AUDUSD formed an outside reversal at parallel channel resistance and the 6/26 high.

-The push above the August high is still not confirmed by a NZDUSD push above its August high.

-Support came in Thursday from former resistance (8/19 high).

Trading Strategy: Short against .9360, exit half at .9120 (9/5 low and 20 day average).

LEVELS: .9115 .9167 .9226 | .9353 .9387 .9439

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

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