AUD/USD In Precarious Position
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 extend off of the October 2013 and July 2014 highs have been useful in identifying important support and resistance in recent years…The rejection is bearish…” The just broken trendline suggests that things could get a lot worse too.
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