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AUD/USD Stalls at Year Open; Breakout Focus is on .8300s

AUD/USD Stalls at Year Open; Breakout Focus is on .8300s

2015-05-14 17:52:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Stalls at Year Open; Breakout Focus is on .8300s

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“AUDUSD continues to trade between well-defined slope lines but beware of a possible broadening bottom (very difficult pattern to trade). A break above the resistance line being tested right now would indicate an important change in market behavior.” The move completes a broadening bottom. Look towards .8295-.8375. Support may reside near .8030.

For more analysis and trade setups, visit SB Trade Desk

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