Trade FOREX with FXCM

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


Forex Analysis: AUD/USD Rejected at Range Top

By , Currency Strategist
25 January 2013 13:55 GMT

Strategy: Flat

Prices turned lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern below multi-month range resistance in the 1.0578-1.0624 area. Sellers have now cleared initial trend line support to target a larger upward-sloping barrier at 1.0424. A break below that exposes the December 26 low at 1.0344. Trend line support-turned-resistance is now at 1.0521.

Forex_Analysis_AUDUSD_Rejected_at_Range_Top_body_Picture_1.png, Forex Analysis: AUD/USD Rejected at Range Top

Daily Chart - Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for

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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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

25 January 2013 13:55 GMT