Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“AUDUSD completed a nearly 3 month head and shoulders pattern last week. The target for the pattern is .9511. Consider the path higher as long as price is above .8972. Breakouts can and do fail. If this one is going to fail, then the most likely places to do so are .9167 or .9268.”
-Focus remains on .9168 and/or .9268 but maybe not before additional range trading. .8987-.9010 is estimated support.
LEVELS: .8944 .8987 .9045 | .9105 .9167 .9267
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.
- Utility Industry
- Basic Materials Industry