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AUD/USD 200 Day Average and December High Fail to Hold

AUD/USD 200 Day Average and December High Fail to Hold

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“It might be time to fight the uphill battle as the rally from 2/7 takes the shape of a wedge. 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.” The noted level did not hold so focus is lower. The October and December 2015 highs at .7380 could be of interest.

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