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AUD/USD Flagging or Sagging?

AUD/USD Flagging or Sagging?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Flagging or Sagging?

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-AUD/USD is trading at a long term parallel (essentially the beginning of a resistance zone that stretches to the 2016 high at .7835) but the last week could be flagging before another push higher. The near term bias line is .7600. As long as price is above the figure, shorts are fighting an uphill battle. Even a drop below .7600 could see support near .7525 (December high).

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

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