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AUDUSD: Has the Bullish Correction Run Its Course?

By Ilya Spivak, Currency Strategist
19 February 2010 12:25 GMT

AUD/USD

Strategy: Pending Short

AUDUSD has produced an Evening Star bearish reversal candlestick pattern below the outer boundary of the 0.8941-0.9041 support-turned-resistance price congestion region. The pair is now testing below the lower limits of this area but we will look for a daily close near current levels as confirmation before entering short, remaining on the sidelines for the time being.

02192010 AUD


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19 February 2010 12:25 GMT