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AUD/USD Could Still Make a Run at .7700

AUD/USD Could Still Make a Run at .7700

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Could Still Make a Run at .7700

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-AUD/USD is approaching an important juncture defined by slope considerations and the pre-May rate cut high at .7719. This level may be resistance but a break above would leave Aussie in full blown bull camp with the focus on the May 2015 high at .8163 and eventually an .8700 handle. Near term, watch for support nearby (currently trading at .7500).

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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