AUD/USD Inside Day at Major Resistance

2016-08-15 05:42:15

(MENAFN- DailyFX) Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to the near term Aussie outlook. 'AUD/USD is approaching an important juncture defined by slope considerations and the pre-May rate cut high at .7719. This level may be resistance but a break above would leave Aussie in full blown bull camp with the focus on the May 2015 high at .8163 and eventually an .8700 handle. Near term, AID/USD needs to hold .7420 to stay constructive.”

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