AUD/USD Breaks Below Trendline and Month Open Price

DailyFX

Daily

View photo

.
AUD/USD Breaks Below Trendline and Month Open Price

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“AUDUSD didn’t quite trade to .9412 before trading lower. The rate is having issues with .9400 generally (including at the early April top, when the rate closed above .9400 twice before failing).”

-Tuesday’s action (trendline break and month open break) makes a strong case that the larger trend has reversed (lower).

LEVELS: .9166 .9201 .9219 | .9271 .9288 .9317

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)