News Column

AUD/USD Gets Relief; Is it Brief?

January 21, 2014

Jamie Saettele, CMT

Daily Automate trades with Mirror Trader and see ideas on other USD crosses -The AUDUSD measured level from the latest break is .8554 but be aware of possible trendline support (downward sloping) at .8712 this week. - This market made a massive outside week last week. The week actually engulfs the prior 4 weeks. It's impossible to know whether the move constitutes exhaustion or the beginning of the next leg down but it's often bet to respect trend. .8864/87 is estimated resistance. LEVELS: .8632 .8700 .8763 | .8837 .8864 .8932 --Trading specifics (setups with entries, stops, targets) are availableto J.S. Trade Desk members .

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Source: DailyFx

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