Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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