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AUD/USD Former Support Line in Line with 55 Day Average

AUD/USD Former Support Line in Line with 55 Day Average

2016-01-28 21:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Former Support Line in Line with 55 Day Average

Chart Prepared by Jamie Saettele, CMT

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

-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.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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