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AUD/USD Pinned to .7500 for Now

AUD/USD Pinned to .7500 for Now

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Pinned to .7500 for Now

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments regarding AUD/USD noted that “AUD/USD turned up on the final day of May (low was .7145). Focus is higher while above .7285.” The rally from the May low consists of 2 equal legs which is a concern because it’s possible that a 3 wave advance is complete at .7645. Still, .7285 (200 day average and year open) is well-defined for 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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