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AUD/USD 200 Day Average and Retracements are Above Market

AUD/USD 200 Day Average and Retracements are Above Market

2016-11-29 20:52:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD 200 Day Average and Retracements are Above Market

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent updates have noted that “there is damage on the weekly chart (outside week reversal) that dip buyers should take note of…and the drop under the September low confirms the false break higher on 11/8 and shifts focus to the May low at .7145.” AUD/USD has firmed since trading under its September low but the .7520-.7600 zone should be monitored for resistance now. This zone is defined by the 200 day average, and 61.8% retracement of the decline from the 11/9 high.

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