AUD USD Enters Major Retracement Zone

The Australian Dollar crossed over to the bull side of a major 50% level.  Unless there is a massive profit-taking break late in the session, look for the AUD USD to finish higher.

The Australian Dollar crossed over to the bull side of a major 50% level at .7929, setting up a further drive to the next resistance level at .8382.

The Main Trend is up with a new Main Bottom at .7450.  Uptrending Gann Angle support from this Main Bottom is at .7810 today.

Unless there is a massive profit-taking break late in the session, look for the AUD USD to finish higher and above .8382.  

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James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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