240 Minute Bars
Prepared by Jamie Saettele
"The AUDUSD decline from the top is breaking support channels and
dropping beneath former tops. Overlap with former peaks is not
impulsive. I favor selling rallies. 10030, 10090, and 10015 are
resistance levels. 9900/9925 is potential short term support." I do
expect the AUDUSD to drift higher in corrective fashion for several
days into mentioned resistance. Also, watch the underside of the
former support line for resistance. It is worth noting that price is
testing support from a trendline drawn off of the June, July, and
December lows.
Source: Dailyfx.com
READ MORE - Australian Dollar Testing 6 Month Trendline
Prepared by Jamie Saettele
"The AUDUSD decline from the top is breaking support channels and
dropping beneath former tops. Overlap with former peaks is not
impulsive. I favor selling rallies. 10030, 10090, and 10015 are
resistance levels. 9900/9925 is potential short term support." I do
expect the AUDUSD to drift higher in corrective fashion for several
days into mentioned resistance. Also, watch the underside of the
former support line for resistance. It is worth noting that price is
testing support from a trendline drawn off of the June, July, and
December lows.
Source: Dailyfx.com
