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AUD/USD Rolls Over Just Shy of Channel Resistance

AUD/USD Rolls Over Just Shy of Channel Resistance

2015-02-26 18:07:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Rolls Over Just Shy of Channel Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“AUDUSD has consolidated since the 2/3 high volume reversal. The rate also registered a weekly key reversal which is a good way to begin at least a countertrend move (higher). .8030/50 sticks out as resistance over the next several weeks if AUDUSD can break above .7875.” Today’s (2/26) reversal comes just shy of channel resistance. As long as price is contained by channel resistance, downside resolution remains possible.

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