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AUD/USD Strength Rejected at December Low

AUD/USD Strength Rejected at December Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Strength Rejected at December Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The AUDUSD measured level from the latest break is .8554. The December low at .8820 rejected today’s advance.

-This market made a massive outside week 2 weeks ago. The week actually engulfed the prior 4 weeks. It’s impossible to know whether the move constitutes exhaustion or the beginning of the next leg down but it’s often best to respect trend.

LEVELS: .8659 .8695 .8737 | .8795 .8820 .8864

--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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