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AUD/USD Classical Technical Report 01.30

AUD/USD Classical Technical Report 01.30

Joel Kruger, Technical Strategist
Daily_Classical_AUDUSD_body_aud2.png, AUD/USD Classical Technical Report 01.30

AUD/USD: The latest surge looks like it could finally be stalling, with the market failing to reach the key highs from October by 1.0755 and breaking back below Friday’s low. Overall, our core outlook remains intensely bearish and we look for a more significant downside extension back below parity over the coming days. Daily studies are now unwinding from overbought and a close below 1.0600 on Monday should confirm and accelerate. Ultimately, only a break above 1.0755 would negate outlook.

--- Written by Joel Kruger, Technical Currency Strategist

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