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

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SymbolPriceChange
AUDUSD=X0.7089+0.0009

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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
    1.4043-0.0044-0.31%
    USDSGD=X
    1.5705-0.0015-0.09%
    EURSGD=X
    2.0254-0.0171-0.84%
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    82.1850-0.8242-0.99%
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    5.5501+0.0235+0.42%
    SGDHKD=X
    2.9827+0.029+0.98%
    SGDMYR=X
    9,755.7852+90.8447+0.94%
    SGDIDR=X
    4.6812+0.0131+0.28%
    SGDCNY=X
    0.9956-0.0017-0.17%
    AUDSGD=X
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    1,198.80+41.10+3.55%
    GCJ16.CMX
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    CLH16.NYM
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