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AUD/USD Bearish Outside Day

AUD/USD Bearish Outside Day

Jamie Saettele, CMT, Sr. Technical Strategist

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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). Today’s outside day reinforces near term bearish behavior. .7380-.7415 is the next decision zone.

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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