Currencies | Dec 18 2013
By Jamie Saettele, CMT, Sr. Technical Strategist for DailyFX.com
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader and see ideas on other USD crosses
-AUDUSD former supports are now estimated resistance at .8988 and .9055. The trend is pointed lower as long as price is below .9167.
-It’s possible that the 8/30 uncovered close inspires a reaction at .8900 but the head and shoulders target isn’t until a new low…at .8802.
Trading Strategy: If the market drifts back above .9000, then we may be able to return to a short position.
LEVELS: .8803 .8847 .8902 | .8988 .9050 .9080
Reprinted with permission of the publisher. The above story can be read on the website www.dailyfx.com. The direct link is:
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