Australian Dollar 10200 Serves as Pivot

Ultimately, a corrective wave is probably underway in the AUDUSD from the November low (9663) but a drop below 10200 would trigger the above count and shift focus towards the December low (9863). What’s more, that rally on 1/3 feels like exhaustion. Action may get choppy in the 10175-10215 area (61.8%-50% retracement, former pivots, and channel line) but a break below would probably see acceleration towards 10043. 10300 is resistance Friday. 

Prepared by Jamie Saettele, CMT