Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader and see ideas on other USD crosses
–AUDUSD is at its lowest level since Aug 2010. Former supports remain estimated resistance at .8988 and .9055. The trend is pointed lower as long as price is below .9167.
-The head and shoulders target is at .8802. It’s worth noting that AUDJPY formed an outside day reversal at important (91.16) support.
Trading Strategy: NOT trading AUDUSD but order to go long AUDJPY at 92.00, stop 91.00 and targeting at least the top of the recent range (94.20/60).
LEVELS: .8632 .8770 .8803 | .8884 .8946 .8989
— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com