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Forex Strategy: AUD/USD May Offer Entry Near Edge of Trading Range

By , Currency Analyst
26 February 2014 11:49 GMT

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Talking Points

  • AUD/USD Technical Strategy: Pending range trade
  • Consolidation continues between support and resistance
  • Awaiting key reversal signal at range extremes for entry

The AUD/USD continues to search for direction as the pair hovers around the 90 US cent level. Traders have kept prices contained within the 0.8920 and 0.9065 range over the past several weeks. Without a clearer indication of a trend we are left with a neutral technical bias for the pair. However, opportunities may arise at either extremes of the trading range alongside a key candlestick reversal pattern.

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Forex_Strategy_AUDUSD_May_Offer_Entry_Near_Edge_of_Trading_Range__body_Picture_1.png, Forex Strategy: AUD/USD May Offer Entry Near Edge of Trading Range

Four Hour Chart - Created Using FXCM Marketscope 2.0

--- Written by David de Ferranti, Market Analyst, FXCM

Contact and follow David on Twitter: @Davidde

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26 February 2014 11:49 GMT