AUD/USD Breaks 200 Day Average and September Low

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I wrote last update that “the drop has reached the 200 day average but there is damage on the weekly chart (outside week reversal) that dip buyers should take note of.” Sure enough, the 20 day average broke on Wednesday and Aussie has penetrated its September low. The drop under the September low confirms the false break higher on 11/8 and shifts focus to the May low at .7145.