AUD/USD Bullish Trendline Break

By DailyFx | June 12, 2014 AAA

DailyFX.com -

Daily

AUD/USD Bullish Trendline Break

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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.

comments powered by Disqus
Related Forex Analysis
  1. Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...
    Forex News

    Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...

  2. AUD Faces A Potential “Breakout” On US Heavy Event Risk
    Forex News

    AUD Faces A Potential “Breakout” On US Heavy Event Risk

  3. AUD/USD Remains Range-Bound As Dojis Highlight Hesitation
    Forex News

    AUD/USD Remains Range-Bound As Dojis Highlight Hesitation

  4. Pound to Fall on Ebbing BOE Rate Hike Bets if 3Q UK GDP Underperforms
    Forex News

    Pound to Fall on Ebbing BOE Rate Hike Bets if 3Q UK GDP Underperforms

  5. AUD/USD Technical Analysis: Still Looking for Direction
    Forex News

    AUD/USD Technical Analysis: Still Looking for Direction

Trading Center