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AUD/USD Nears Important Resistance Level

AUD/USD Nears Important Resistance Level

2016-04-14 18:22:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Nears Important Resistance Level

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments regarding AUD/USD noted that “the turn higher this week raises the possibility that price action since 3/18 is corrective (triangle?) before additional strength into more important resistance.” That ‘important resistance’ is around .78. Pronounced divergence with RSI also warns that the Aussie run may be nearing completion.

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

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