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AUD/USD Near Term Downtrend While Below .7223

AUD/USD Near Term Downtrend While Below .7223

Jamie Saettele, CMT, Sr. Technical Strategist


AUD/USD Near Term Downtrend While Below .7223

Chart Prepared by Jamie Saettele, CMT

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

-After turning down sharply from ‘angle resistance’, AUD/USD has resumed lower and is in a near term bearish position while below .7223 (latest swing high). In the event of fresh trend lows, the next support may not be until the mid-.6700s (1999 high, 2004 low).

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.