AUD/USD Finds Structural Support

DailyFX

Weekly Candles

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eliottWaves_aud-usd_body_audusd.png, AUD/USD Finds Structural Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The AUDUSD remains well supported. The reversal at structural support today (former 4th wave) is a bullish piece of evidence. The longer that the AUDUSD spends trading around the trendline from the 2011 highs, the more one must consider the possibility of an upside breakout. It’s a waiting game right now but as soon as the market tips its hand, we’ll look to be active.

FOREXTrading Strategy: Flat

LEVELS: 1.0260 1.0305 1.0347 1.0460 1.0550 1.0600

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