AUD/USD Pin Bars at Long Term Technical Level
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“AUDUSD followed through on its 11/7 outside reversal and filled the early November gap. Action since October is probably consolidation that gives way to another leg lower.”
-A long term zone spans .8067 to .7927 (2010 low to 50% of rally from 2001 low with 2004 and 2005 lows in between). Pin bars in recent days may mark the beginning of at least consolidation.
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