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AUD/USD Move Could Pause after Taking Out the Obvious Level

AUD/USD Move Could Pause after Taking Out the Obvious Level

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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.

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