DailyFX.com -

Daily

AUD/USD Could Stage a Reversal Attempt Here

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments regarding AUD/USD noted that “important resistance is around .78. Pronounced divergence with RSI also warns that the Aussie run may be nearing completion…the outside day bearish reversal on 4/21 is a good way to make at least a short term top. Weakness below .7500 (trendline) would bolster bearish prospects.” AUD/USD broke .7500 and has already reached estimated support in the .70-.72 area. Watch for signs of a reversal.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk


original source