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AUD/USD Fails Before Resistance; .7380s Re-Test Coming?

AUD/USD Fails Before Resistance; .7380s Re-Test Coming?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments regarding AUD/USD noted that “.7780s or so could influence for something on the downside. If you’re trading AUD/USD, be aware of these levels in copper and FXI (China large cap).” AUD/USD turned down sharply before cited resistance. Copper turned down a full 9 days before AUD/USD (China turned down 1 day before AUD/USD). Former resistance at .7380 is a near term pivot.

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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