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AUD/USD Breaks Through Tight Range; .7600 Remains Key

AUD/USD Breaks Through Tight Range; .7600 Remains Key

2017-02-16 21:48:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Breaks Through Tight Range; .7600 Remains Key

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-AUD/USD continues to trade at a long term resistance zone (stretches to the 2016 high at .7835). The near term bias line is (still) .7600. As long as price is above the figure, shorts are fighting an uphill battle. A drop below .7600 could see support near .7525 (December high).

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