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AUD/USD Due for Pullback after 5 Wave Advance?

AUD/USD Due for Pullback after 5 Wave Advance?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Due for Pullback after 5 Wave Advance?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-AUDUSD has closed above the line that extends off of the 12/10 and 1/13 highs. The top of this line along with the 2/7 high at .8997 are now support.

-The rate might need to take out .9085 before experiencing a deeper pullback towards .8875 or even .8820/30

LEVELS: .8875 .8941 .8997 | .9047 .9085 .9166

--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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