AUD USD in Position to Test .8382

The AUD USD is currently in a position to challenge the last Main Topat .8264 and the major Fibonacci retracement level at .8382. A tradethrough the Main Top will negate last week’s closing price reversal top.

Intra-Day Analysis

The AUD USD is currently in a position to challenge the last Main Top at .8264 and the major Fibonacci retracement level at .8382. A trade through the Main Top will negate last week’s closing price reversal top.

The current rally has helped form a new Main Trend Bottom at .7828.  A trade through this level will turn the Main Trend to down.

Regaining a major 50% level at .7983 is helping to support this market.  A close back under this level will indicate that the selling is greater than the buying at current levels.

Based on the daily swing chart, this market could trade as high as .8642 within the next 12 days.

For Gann Angle support and resistance email me at jhyerczyk@yahoo.com

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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