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AUD/USD is Heavy While Below Trendline

AUD/USD is Heavy While Below Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD is Heavy While Below Trendline

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.” AUD/USD broke .7500. Focus is lower although former resistance at .7382 may provide interim support.

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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