AUD/USD Drifts Lower from Long Held Angle of Influence
Chart Prepared by Jamie Saettele, CMT
-AUD/USD is pulling back from slope resistance (former support) and could see support now near .7130/50 (slope support in late July and early August).
-Previous comments remain valid. “The weekly tweezer bottom ‘worked’ on AUD/USD. As mentioned last update, “the break above the 55 day average shouldn’t be dismissed given failure at the average in June and September. The break above .7279 triggers a double bottom (arguably…some like to see a lower 2nd low) with an objective at .7622.” .7622 is towards the top of an estimated resistance that includes former lows and the 200 day average.”
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