AUD/USD on 11 Month Trendline Before RBA

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eliottWaves_aud-usd_body_audusd.png, AUD/USD on 11 Month Trendline Before RBA

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The AUDUSD is doing its best to hold the trendline that extends off of the 2012 and 2013 lows. Selling into trendline support isn’t good practice. If there is going to be a sale, then it’s going to be on a break of the trendline and subsequent reaction into resistance (barring any clean intraday pattern). RBA is tonight.

FOREXTrading Strategy: Flat

LEVELS: .9979 1.0115 1.0194 1.0283 1.0327 1.0370

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