AUD/USD Former Support Line in Line with 55 Day Average
Chart Prepared by Jamie Saettele, CMT
-The last updated noted that “AUD/USD tested the September low before turning up. The ‘false break’ could result in some pain for breakout traders…which implies a rally attempt (short term).” 3 handles later, shorts could get a reprieve from the former support line and 55 day average near .7140. Still, there are signs that this is a more important low.