AUD/USD First 20 Day High Since October 29th
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-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).
-AUDUSD made a 20 day high today…the first since October 29th. In fact, the last 2 20 day highs were 9/5/14 and 10/29/14. Those were the exact highs of the move. The same thing could happen here, especially with AUDUSD at trendline resistance.
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