AUD/USD .8920 in Focus as Resistance
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“AUDUSD arguably completed a head and shoulders top today. The pattern’s objective is .8971 but there is possible support from .9135 (2 equal legs down and former highs from March).”
-“The target was reached 4 days after the pattern completed but AUDUSD has continued lower since breaking the line that extends off of the 2008 and January lows and the rate is flirting with a break of epic proportion. Resistance is .8890 and the swing pivot is .9111.” AUDUSD has returned to the top of its recent range. .8890-.8925 remains resistance.
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