Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account


AUDUSD: A Triple Top in the Works?

By , Currency Strategist
27 January 2012 04:43 GMT

Strategy: Flat

AUDUSD put in a bearish Shooting Star candlestick below double top resistance at 1.0728, hinting a move lower is ahead. Overbought RSI levels seem to reinforce the case for a downside scenario but confirmation remains elusive and we will stand aside for now until prices show greater conviction. The first layer of significant support lines up at 1.0379.

AUDUSD_A_Triple_Top_in_the_Works_body_Picture_5.png, AUDUSD: A Triple Top in the Works?

Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

27 January 2012 04:43 GMT