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AUD/USD Tight Range for June; Finishes Month at Resistance

06/30/2015 | 03:45pm US/Eastern
DailyFX.com -

Daily

AUD/USD Tight Range for June; Finishes Month at Resistance

Chart Prepared by Jamie Saettele, CMT

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

-June’s AUDUSD range (3.4%) was the smallest monthly range since October (3.05%). In fact, the intermonth plots of price action for June and October are virtually identical. Both time series form 3 wave corrective (A-B-C) patterns. However, Monday’s reversal warns of a false breakdown. The rate is at resistance now so we should a better idea of direction over the next few days.

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


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© FXCM 2015
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