AUD/USD Move Could Pause after Taking Out the Obvious Level
Chart Prepared by Jamie Saettele, CMT
-The last note remarked that “AUD/USD has indeed resumed higher and is facing its next test from the 200 day average and December high. It’s not uncommon for an obvious level to get taken out before a pause in the underlying move. In this case, the obvious level is the 12/14 ‘hawkish hike’ day high. Once that gets run, Aussie may be allowed to pull back.” The cross has taken out the level. A floor from 2015 stretches up to the .7620s and should be watched for a response.
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