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AUD/USD Could React at .9310 or .9386

AUD/USD Could React at .9310 or .9386

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Could React at .9310 or .9386

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“AUDUSD completed a nearly 3 month head and shoulders pattern last week. 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.”

-It took 3 tries, but AUDUSD followed through. The advance would consist of 2 equal legs from the January low at .9310. The 2011 low is at .9386. One of these levels may inspire a reaction. .9190 is support.

LEVELS: .9119 .9153 .9213 | .9287 .9344 .9386

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

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