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AUD/USD Continues to Test Support Line

AUD/USD Continues to Test Support Line

2016-11-10 22:04:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Continues to Test Support Line

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to the daily AUD/USD analysis. “AUD/USD has been threatening to break out since August. Price action since early 2015 is viewed as a rounding bottom and pattern since August takes the form of an inverse head and shoulders pattern that could launch a major advance. The 3 month range is historically compressed and similar previous range readings tend to precede substantial directional moves.”

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