AUD/USD-Inclined to Expect a Resistance Break This Time
Chart Prepared by Jamie Saettele, CMT
-Recent updates have noted that “the ‘false break’ under the September low 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…but there are signs that this is a more important low.” Indeed, the pullback was short lived and AUD/USD is testing a significant slope line that has been support and resistance since 2015. In fact, this angle has been critical since 2013.
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