AUD/USD Pulling off 2nd Standard Deviation Band on Weekly

DailyFX

Daily

View photo

.
eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Pulling off 2nd Standard Deviation Band on Weekly

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-It took 3 tries, but AUDUSD followed through on its breakout. The advance would consist of 2 equal legs from the January low at .9310. The 2011 low is at .9386. One of these levels may inspire a reaction.

-2 key reversals in the last 3 days warns of a top. .9190 is still support and a break under channel support is needed to negate larger bullish implications.

LEVELS: .9119 .9153 .9190 | .9246 .9310 .9344

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

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.

Rates

View Comments (0)