FOREX Technical Analysis: AUD/USD Little Changed after Opening Year Surge

DailyFX

Weekly Bars

View photo

.
FOREX_Technical_Analysis_AUDUSD_Little_Changed_after_Opening_Year_Surge_body_audusd.png, FOREX Technical Analysis: AUD/USD Little Changed after Opening Year Surge

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: As long as the AUDUSD is below 10585, it’s worth keeping in mind the longer term AUD/USD triangle, in which price may decline towards parity or below in order to complete triangle wave E. COT data reveals a sentiment extreme as well.

FOREXTrading Strategy: From yesterday – “Shorting today’s rally offers great reward/risk against 10585.”

LEVELS: 10375 10408 10435 10475 10523 10553

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)