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AUD/USD Fizzles above .7500; Watch for Support from Former Highs

AUD/USD Fizzles above .7500; Watch for Support from Former Highs

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Fizzles above .7500; Watch for Support from Former Highs

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-AUD/USD has broken through important resistance. As noted in the last update, “look towards the .7500 area. Aside from the psychological presence, .7500 was a congestion area last July.” The resistance zone of .7532-.7625 is defined by the April and February 2015 lows. Even if the broader trend is higher, weakness could materialize from this zone.

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

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