AUD/USD .9200 Lines Up as an Important Level

By DailyFx | Updated August 07, 2014 AAA -


AUD/USD .9200 Lines Up as an Important Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“A final high (above the April high) is possible in order to complete impulses at multiple degrees of trend (from the May low and January low). That high appears to be in place. The high so far is on 7/1, which is a day that exhibited high volume. The action after a high volume day suggests that the new high was exhaustive in nature.”

-The rate has followed through on its reversal week. Ultimately, the confluence of former lows and the 200 DMA at .9200 could provide important support. Failure to hold that level would open up retracement levels at .9080 and .8980.

--Tradingideas are availabletoJ.S. Trade Desk members.

You May Also Like

Related Forex Analysis
  1. Forex News

    FOMC Preview and Trade Setups in EUR/USD, USD/JPY, AUD/USD

  2. Forex News

    AUD/USD Technical Analysis: Digesting Losses at 4-Year Low

  3. Forex News

    AUD/USD Awaits Breach Of 0.8200 Barrier To Recast Risks Lower

  4. Forex News

    AUD/USD Dripping Along Lower Parallel

  5. Forex News

    AUD/USD Technical Analysis: Aiming Below 0.82 Figure

Trading Center