AUD/USD Bounce Viewed in Context of Important Resistance Above
Chart Prepared by Jamie Saettele, CMT
-“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) last week. The 200 day and December high should be watched for support near .7525.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.