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Forex: AUD/USD Technical Analysis – 0.96 Mark Now in Sight

By , Currency Strategist
10 October 2013 11:52 GMT

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Talking Points

  • Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
  • A close above resistance at 0.9523 (38.2% Fib) has exposed 0.9598 (50% Fib)
  • Turning back below 0.9523 targets 0.9430 (23.6% Fib); we are holdinglong

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dailyclassics_aud-usd_body_ausdusd.png, Forex: AUD/USD Technical Analysis – 0.96 Mark Now in Sight

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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10 October 2013 11:52 GMT