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AUD/USD Trying to Base for a Bounce

AUD/USD Trying to Base for a Bounce

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Trying to Base for a Bounce

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments regarding AUD/USD noted that “AUD/USD broke .7500 and has already reached estimated support in the .70-.72 area. Watch for signs of a reversal.” The rate has turned up sharply on the final day of May (from support). As such, price action since 5/24 may compose a near term bottoming pattern.

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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