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. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center