AUD/USD Tests Broken Resistance Line

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com -

Daily

AUD/USD Tests Broken Resistance Line

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-AUDUSD broke above the line that extends off of the October and April highs last week. That line is now being tested from above (as support). A final high isn’t out of the question in order to complete impulses at multiple degrees of trend (from the May low and January low).

LEVELS: .9240 .9275 .9309 | .9446 .9460 .9500

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

You May Also Like

Related Forex Analysis
  1. Investing

    AUD/USD Shows Tepid Support

  2. Forex News

    Pound May Rise as 4Q UK GDP Data Boosts BOE Rate Hike Bets

  3. Forex News

    AUD/USD Technical Analysis: Candle Hints at Bounce Ahead

  4. Forex News

    Euro Shrugs Off Widely Expected Greek Election Outcome

  5. Investing

    AUD/USD Breaks Down on Friday

Trading Center