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AUD/USD at Slope Resistance

AUD/USD at Slope Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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 for a countertrend move (higher) spans .8067 to .7927 (2010 low to 50% of rally from 2001 low with 2004 and 2005 lows in between).

--Tradingideas are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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