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AUD/USD .8990-.9050 is Now Estimated Resistance

AUD/USD .8990-.9050 is Now Estimated Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_1_body_Picture_8.png, AUD/USD .8990-.9050 is Now Estimated Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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

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

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