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AUD/USD Still Working within Short Term Bull Channel

AUD/USD Still Working within Short Term Bull Channel

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Still Working within Short Term Bull Channel

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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 from .7550 to .7580.

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

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