AUD/USD Fades after Spike; Look Towards 200 DMA
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“AUDUSD didn’t quite trade to .9412 before trading lower. The rate is having issues with .9400 generally (including at the early April top, when the rate closed above .9400 twice before failing).”
-Tuesday’s action (trendline break and month open break) makes a strong case that the larger trend has reversed (lower). Resistance at .9275 held so look towards the 200 day average at .9175.
LEVELS: .9166 .9201 .9216 | .9239 .9274 .9317
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