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AUD/USD Closing in on June 2015 High

AUD/USD Closing in on June 2015 High

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments regarding AUD/USD noted that “important resistance is around .78. Pronounced divergence with RSI also warns that the Aussie run may be nearing completion.” AUD/USD is trading just above .7800. Barring a late day reversal, the rate is going to close above the line that connects important lows and highs since August 2013. 2 horizontal levels to pay attention to are the June 2015 high at.7849 and the trendline that extends off of the April 2013 and September 2014 highs, which is near .80.

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.