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AUD/USD Nears Bottom of 1 Month Range before Jobs Data

AUD/USD Nears Bottom of 1 Month Range before Jobs Data

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Nears Bottom of 1 Month Range before Jobs Data

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-AUDUSD is nearing the bottom of its month long range following the failed breakout above .9000. A period of wider ranging remains possible. .8860/75 is possible support before the low.

-Continue to favor a larger upward correction as long as the lows hold. In general, resistance is likely from .9167-.9267. This zone is identified as a region to return to a longer term short position.

LEVELS: .8820 .8858 .8881 | .8968 .9004 .9054

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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

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