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AUD/USD Breakout Levels are .7460 and .7700

13 Oct 2016 20:46, GMT
Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-AUD/USD price action since Brexit has been choppy and consists of overlapping waves. That alone suggests that we may be dealing with a triangle. Triangle barriers are near closing extremes of .7460 and .7700. A break of one of these levels should open the door for a directional move. If it’s lower, be aware of the 200 day average however. Relative strength here makes AUD interesting on the non-USD crosses.

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

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