AUD/USD Bullish Trendline Break

By DailyFx | Updated July 30, 2014 AAA

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AUD/USD Bullish Trendline Break

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“AUDUSD has traded in a tight range since the 4/11 high. Larger trend remains constructive as per price above the 200 DMA but there is also overhead resistance from the line that extends off of the October and April highs, and 2011 low (.9387). In other words, respect range conditions for now.” AUDUSD broke through the mentioned line today but has yet to challenge the April high. Trading wise, today’s low needs to hold in order for the breakout to remain valid.

LEVELS: .9309 .9337 .9400 | .9446 .9460 .9500

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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