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AUD/USD Dips after Failed Run on .9400

AUD/USD Dips after Failed Run on .9400

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Dips after Failed Run on .9400

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“If the broader bull move has resumed, then expect .9300/20 to hold as support.” Stay constructive but know that .9412 is a possible reaction level.

-AUDUSD didn’t quite trade to .9412 before pulling back on Wednesday. The rate is having issues with .9400 generally (including at the early April top, when the rate closed above .9400 twice before failing). A dip into .9300 may be in order. Below .9275 would suggest that the trend has reversed lower.

LEVELS: .9275 .9288 .9317 | .9378 .9412 .9460

--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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