AUD/USD .8990-.9050 is Now Estimated Resistance
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-AUDUSD former supports are now estimated resistance at .8988 and .9055. The trend is pointed lower as long as price is below .9167.
-It’s possible that the 8/30 uncovered close inspires a reaction at .8900 but the head and shoulders target isn’t until a new low…at .8802.
Trading Strategy: If the market drifts back above .9000, then we may be able to return to a short position.
LEVELS: .8803 .8847 .8902 | .8988 .9050 .9080
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com