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AUD/USD Outside Day; May Threaten September High

AUD/USD Outside Day; May Threaten September High

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_aud-usd_body_audusd.png, AUD/USD Outside Day; May Threaten September High

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-AUDUSD decline from the Sep high found low at the 38.2% of the advance from .8892.

-Last night’s drop reversed right in front of the Monday low. The outside day may provide a springboard for a run at the Sep high or even .9580 (June low) before the market tries to top.

Trading Strategy: Was triggered short GBPAUD at 1.6950, stop is moved to 1.6970. I’m in this for a break.

LEVELS: .9333 .9389 .9409 | .9488 .9528 .9580

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