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AUD/USD Rounding Top Idea Still in Play

11 Oct 2016 23:12, GMT
Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

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-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. Retracement levels for support are .7544 and .7575. The bottom of this zone was reached today (10/11).

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