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AUD/USD Breaks Support Intraday but Finishes Within Range

AUD/USD Breaks Support Intraday but Finishes Within Range

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Breaks Support Intraday but Finishes Within Range

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-AUDUSD spiked below the recent range on Monday, thus negating the triangle that I thought had been forming. Even so, the rate closed back within the range and close to unchanged on the day.

-Of note is that the decline from .9080 consists of 2 equal waves (almost exactly). This is consistent with a corrective move.

LEVELS: .8887 .8919 .8945 | .8980 .9027 .9066

--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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