AUD/USD Still Capped by .7500
Chart Prepared by Jamie Saettele, CMT
-Remember, “AUD/USD has followed through on its outside week reversal (lower) so broad focus is still lower.” The near term picture is tricky but AUD/USD remains capped by .7500, which has proven a useful pivot at times since July 2015 (initially as resistance following a gap). Even so, a push above .7500 wouldn’t necessarily flip the script to bullish as there are well-defined technical considerations for resistance in the .7550s (notably the 10/28 low).
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