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AUD/USD Failing to Follow Through on Outside Week Reversal

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“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 a day that exhibited high volume. The action after a high volume day suggests that the new high was exhaustive in nature but a break below .9328 is needed to indicate follow through on the reversal week.

LEVELS: .9302 .9362 .9384 | .9421 .9441 .9504

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Forex pairs in this Article » AUD/USD

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