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AUD/USD Pressing a Significant Level

AUD/USD Pressing a Significant Level

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

-“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.” AUDUSD continues to trade between well-defined slope lines but beware of a possible broadening bottom (very difficult pattern to trade). A push through the resistance line being tested right now would indicate an important change in market behavior.

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