Weekly
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-“AUDUSD arguably completed a head and shoulders top today. The pattern’s objective is .8971 but there is possible support from .9135 (2 equal legs down and former highs from March).”
-“The target was reached 4 days after the pattern completed but AUDUSD has continued lower since breaking the line that extends off of the 2008 and January lows.” Consolidation since the 10/3 low may give way to the next lower. Near term resistance is up to .8795.
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