Exchange rates

AUDUSD

Real-time Estimate TTMZero 02:51:03 2024-07-01 EDT			5-day change	1st Jan Change
0.6668 ^USD	-0.09%		+0.29%	-2.01%

06:21am	Australia, NZ dlrs edge up on dollar, give back on euro	RE
03:52am	Australia's Annual Resources Export Earnings Fall, Forecast to Decline Further	DJ

AUD/USD Big Picture Downside Potential is Plenty

December 19, 2013 at 05:30 pm

MarketScreener.com By

Weekly

eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Big Picture Downside Potential is Plenty

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Barring a Friday close above .8967, the AUDUSD will have declined for 9 consecutive weeks for the first time since 1982.

-There is plenty of downside potential. Minor supports come in from .8632 and .8770 but the next major support isn’t until .8068.

Trading Strategy: The goal is to return to the short side on a failed rally into resistance. In general, .8970-.9055 is resistance. Watch for these levels to intersect trendlines that extend off of the Oct and Nov 20 highs as well as the Nov 20 and Dec 10 highs. I am currently long AUDJPY (entry 92) with a 91 stop and 93.50 target.

LEVELS: .8632 .8770 .8803 | .8884 .8946 .8989

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

original source

Latest news about AUD / USD

Australia, NZ dlrs edge up on dollar, give back on euro	12:21am	RE
Australia's Annual Resources Export Earnings Fall, Forecast to Decline Further	09:52pm	DJ
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