FOREX Technical Analysis: AUD/USD Reverses Sharply During US Trading

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SymbolPriceChange
AUDUSD=X0.7484-0.0001

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FOREX_Technical_Analysis_AUDUSD_Reverses_Sharply_During_US_Trading_body_audusd.png, FOREX Technical Analysis: AUD/USD Reverses Sharply During US Trading

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: After coming within nearly 20 pips of the high (and our invalidation level), the AUD/USD sold off sharply. Price remains above the November low of 10329 of which a break would increase confidence in the downside towards 10275. Trendline support rests just below the current level but it’s best to stick with the idea that a top is in place as identified by a JS Spike on 11/7.

FOREXTrading Strategy: Don’t chase weakness in front of trendline support and the monthly low but if not already bearish, then you may wish to try on strength into 10400.

LEVELS: 10192 10275 10359 10400 10440 10480

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3562+0.0036+0.27%
    USDSGD=X
    1.5592+0.0039+0.25%
    EURSGD=X
    1.9670+0.0011+0.06%
    GBPSGD=X
    78.6381-0.5272-0.67%
    SGDJPY=X
    5.7225-0.0168-0.29%
    SGDHKD=X
    2.9561+0.0083+0.28%
    SGDMYR=X
    9,809.0186-0.23140.00%
    SGDIDR=X
    4.7940-0.0058-0.12%
    SGDCNY=X
    1.0150+0.0026+0.26%
    AUDSGD=X
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    Commodities
    NamePriceChange% Chg
    1,279.20-12.60-0.98%
    GCM16.CMX
    17.26-0.24-1.37%
    SIN16.CMX
    87.23-3.50-3.86%
    ^XAU
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    HGN16.CMX
    43.81+0.16+0.37%
    CLM16.NYM
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    Bonds
    TreasuryYield (%)Yield Change
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    ^FVX
    1.80-0.07
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    ^TYX

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    N21.SI
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    G13.SI
    3.76-0.07-1.83%
    Z74.SI
    0.385-0.005-1.28%
    E5H.SI
    0.730.000.00%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.48+0.08+20.00%
    BFK.SI
    0.194+0.019+10.86%
    D79.SI
    0.28+0.03+9.80%
    BHO.SI
    0.185+0.015+8.82%
    AYL.SI
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    BQP.SI
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    AWK.SI