AUD/USD Slammed into .9275 Support
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“Ultimately, the confluence of former lows and the 200 DMA at .9200 could provide important support for the next low. Failure to hold that level would open up retracement levels at .9080 and .8980.”
-“Action since 8/21 suggests that a low is in now and that a strong advance is around the corner. .9370-.9403 is a reaction zone (there now).” AUDUSD ended up finding to at .9373 last week. The rate is trading at support now (.9275) but .9235 is key to the near term bullish case.
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