News Column

AUD/USD Breaks Below Trendline and Month Open Price

May 20, 2014

Jamie Saettele, CMT

Daily

AUD/USD Breaks Below Trendline and Month Open Price

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



-"AUDUSD didn't quite trade to .9412 before trading lower. The rate is having issues with .9400 generally (including at the early April top, when the rate closed above .9400 twice before failing)."



-Tuesday's action (trendline break and month open break) makes a strong case that the larger trend has reversed (lower).



LEVELS: .9166 .9201 .9219 | .9271 .9288 .9317



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




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Source: DailyFx