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AUD/USD Consolidates at Range Highs; May Have Topped

AUD/USD Consolidates at Range Highs; May Have Topped

2014-06-24 19:00:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Consolidates at Range Highs; May Have Topped

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-AUDUSD broke above the line that extends off of the October and April highs 2 weeks ago. That line held as support last week. A final high (above the April high) is possible in order to complete impulses at multiple degrees of trend (from the May low and January low). Below .9320 would indicate that a correction of the rally from the January low is probably underway towards .8965-.9060.

LEVELS: .9298 .9321 .9350 | .9418 .9460 .9500

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

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