AUD/USD - .7380 is Important

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-As noted previously, “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…see what kind of weakness can materialize off of this level but major support is near .7380-.7400.” AUD/USD has been absolutely slammed from resistance and is closing in on the mentioned .7380. The October and December 2015 highs are low .7380s. The 200 day average is just above those levels. A hold would be viewed as bullish Aussie.

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