Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader and see ideas on other USD crosses
–AUDUSD former supports are now estimated resistance at .8988 and .9055. The trend is pointed lower as long as price is below .9167.
-The 8/30 uncovered close at .8900 has been reached but the head and shoulders target isn’t until a new low…at .8802.
Trading Strategy: In the event of a bounce into trendline resistance (probably above .90), we may be able to return to a short position.
LEVELS: .8770 .8803 .8847 | .8946 .8988 .9050
— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com