AUD/USD Resistance Zone Extends to .7440s
Chart Prepared by Jamie Saettele, CMT
-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 200 day average broke 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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.