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AUD/USD Breaks above Short Term Downtrend Line

AUD/USD Breaks above Short Term Downtrend Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Breaks above Short Term Downtrend Line

Chart Prepared by Jamie Saettele, CMT

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

-The sharp turn higher in AUDUSD raises the specter of additional range trading (between .7600 and .8100).

-2 lows near .7600 indicates potential for a short term double bottom and continuation of a broader range trade.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

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