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AUD/USD .7500 Serves as a Solid Dividing Line

AUD/USD .7500 Serves as a Solid Dividing Line

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-AUD/USD has followed through on its outside week reversal (lower) so broad focus is still lower. I noted last update to “watch .7520-.7600 for resistance…the zone is defined by the 200 day average, and 61.8% retracement of the decline from the 11/9 high.” AUD/USD ended up turning over a few ticks under .7500, which has proven a useful pivot at times since July 2015 (initially as resistance following a gap).

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.