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AUD/USD – Pressing Major Breakout Line for 4th Time in 2016

AUD/USD – Pressing Major Breakout Line for 4th Time in 2016

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD – Pressing Major Breakout Line for 4th Time in 2016

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I had been looking for support in Aussie near .7380 (October and December 2015 highs and the 200 day average is just above those levels) but the immediate return to major resistance puts AUD/USD on ‘breakout alert’. Price must remain above .7442 in order to maintain a constructive near term outlook.

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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