News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
AUD/USD Larger Corrective Pattern Taking Hold?

AUD/USD Larger Corrective Pattern Taking Hold?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Larger Corrective Pattern Taking Hold?

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 has rejected strength so far this week. Additional resistance would come in at .8864 and trendline resistance, which is at .8910 on Friday and decreases about 8 pips per day.

-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: .8577 .8682 .8755 | .8805 .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.

DISCLOSURES