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AUD/USD Bounce Will Face a Test Near .7610

AUD/USD Bounce Will Face a Test Near .7610

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-AUD/USD took out the February high in March and then took out the March low earlier this week. This expanding range may mark the beginning of increased volatility (range expansion). I’d continue to be aware of .7380s the positioning as per COT (see here). Near term, .7310 is a level to know (50% retracement and horizontal level).

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

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