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AUD/USD Rally Rejected By Channel Resistance

AUD/USD Rally Rejected By Channel Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“Today’s (2/26) reversal comes just shy of channel resistance. As long as price is contained by channel resistance, downside resolution remains possible.” Focus is on the lower end of the channel but channel resistance must hold. A push above would indicate an important behavior change.

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

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