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AUD/USD at Long Term Trendline

Jamie Saettele, CMT

DailyFX.com -

Daily

AUD/USD at Long Term Trendline
AUD/USD at Long Term Trendline

Chart Prepared by Jamie Saettele, CMT

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

-“June’s AUDUSD range (3.4%) was the smallest monthly range since October (3.05%). In fact, the intermonth plots of price action for June and October are virtually identical. Both time series form 3 wave corrective (A-B-C) patterns.”

-“Focus remains lower towards .7100/50. A close above .7450 is needed in order to indicate a reversal.” AUDUSD crashed below .7100 and reversed on Monday but we still need traction over .7450 in order to change even the near term picture.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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