AUD/USD – Pressing Major Breakout Line for 4th Time in 2016

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    AUD/USD – Pressing Major Breakout Line for 4th Time in 2016

    Chart Prepared by Jamie Saettele, CMT

    DailyFX Trading Guides and Forecasts

    -I had been looking for support in Aussie near .7380 (October and December 2015 highs and the 200 day a verage is just above those levels) but the immediate return to major resistance puts AUD/USD on 'breakout alert'. Price must remain above .7442 in order to maintain a constructive near term outlook.

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


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    This article appears in: Investing , Forex


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