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AUD/USD Breakout; Former Resistance is Support Near .9030/40

AUD/USD Breakout; Former Resistance is Support Near .9030/40

2014-03-06 21:47:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Breakout; Former Resistance is Support Near .9030/40

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Suspicions have been confirmed. AUDUSD completed a nearly 3 month head and shoulders pattern today. The target for the pattern is .9511. Consider the path higher as long as price is above .8972.

-Breakouts can and do fail. If this one is going to fail, then the most likely places to do so are .9167 or .9268.

LEVELS: .8988 .9033 .9064 | .9107 .9167 .9268

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

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