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AUD/USD 7th Day at Biggest Inflection Point in Years

AUD/USD 7th Day at Biggest Inflection Point in Years

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD 7th Day at Biggest Inflection Point in Years

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to the near term Aussie outlook. “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, AID/USD needs to hold .7420 to stay constructive.”

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

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