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AUD/USD Small Coil Below Channel Resistance

AUD/USD Small Coil Below Channel Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Today’s (2/26) reversal comes just shy of channel resistance. As long as price is contained by channel resistance, downside resolution remains possible.” AUDUSD is at new lows and focus now shifts to the lower end of the channel in the low .70s but channel resistance must hold. A push above would indicate an important behavior change.

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