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AUD/USD Nears Steep Trendline Support

AUD/USD Nears Steep Trendline Support

2016-04-28 19:19:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Nears Steep Trendline Support

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.” The outside day bearish reversal on 4/21 is a good way to make at least a short term top. Weakness below .7500 (trendline) would bolster bearish prospects.

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

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