We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bullish
More View more
AUD/USD 8/30 Uncovered Close in Focus at .8900

AUD/USD 8/30 Uncovered Close in Focus at .8900

2013-12-04 00:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_aud-usd_1_body_Picture_8.png, AUD/USD 8/30 Uncovered Close in Focus at .8900

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-AUDUSD continues to break down following the completed head and shoulders top on 11/21. The objective from this pattern is .8802 (below the Aug low).

-Levels that may provide support however are a short term measured level at .8942, the 8/5 close at .8928 (day of the 2013 low), and the 8/30 close at .8899 (uncovered).

-Recently broken support at .9060 is now possible resistance.

Trading Strategy: Tightening the stop to .9150 and placing a target at .8910.

LEVELS: .8847 .8900 .8928 | .9055 .9089 .9145

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

DISCLOSURES

News & Analysis at your fingertips.