FOREX Technical Analysis: AUD/USD Bullish Bias Favored above 10485

RELATED QUOTES

SymbolPriceChange
AUDUSD=X0.9327-0.0005

Daily Bars

eliottWaves_aud-usd_body_audusd.png, FOREX Technical Analysis: AUD/USD Bullish Bias Favored above 10485

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: “The AUDUSD closed on the trendline that extends off of the 2011 and 2012 highs on Friday after trading above the line intraweek. Price is back above the line now. Currencies (first the Yen, then the Euro) have been breaking out in recent weeks so perhaps the AUDUSD is next. Respect breakout potential as long as price is above 10356.”

FOREXTrading Strategy: Today’s rally offers some separation from Friday’s low at 10485, which can now be used as a pivot to trade against.

LEVELS: 10485 10506 10548 10598 10624 10730

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9327-0.0005-0.05%
    AUDUSD=X
    0.5555-0.0003-0.05%
    AUDGBP=X
    0.6753-0.0003-0.05%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg