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AUD/USD Testing Well-Defined .7380s; Range Since April a Base?

AUD/USD Testing Well-Defined .7380s; Range Since April a Base?

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last noted remarked “put up or shut up time for bears in Aussie. Strength through .7370 would do structural damage to the bear case and strength towards 2016 range highs would start to become more of a reality.” The cross is trading right at .7370 so the jury is still out. .7380 was big resistance in 2016 too. My hunch is that AUD/USD resumes higher but this level is big…I doubt it goes without a fight.

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