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AUD/USD Making Good on Wedge Reversal

AUD/USD Making Good on Wedge Reversal

2017-03-02 21:21:00
Jamie Saettele, CMT, Sr. Technical Strategist
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AUD/USD Making Good on Wedge Reversal

Chart Prepared by Jamie Saettele, CMT

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-The last note remarked that “it might be time to fight the uphill battle as the rally from 2/7 takes the shape of a wedge. Weakness below the wedge line would signal an opportunity.” AUD/USD responded with its largest 1 day drop since November (day after the U.S. election). The 200 day average and December high could stem weakness at .7525 but the path is lower until further notice.

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