AUD/USD Pops above Big Level then Reverses
Chart Prepared by Jamie Saettele, CMT
-The last updated noted that “AUD/USD is testing major resistance in the form of what we call ‘slope’. Parallels to the line that extends off of the October 2013 and July 2014 highs has been useful in identifying important support and resistance in recent years. We’re at the most recent iteration of that line now.” AUD/USD failed to sustain its move through the line. The rejection is bearish.