AUDUSD: A Double Top in the Works?
Strategy: Pending Short
AUDUSD broke above rising channel resistance to challenge 1.0763, the September 1 wick high. RSI studies are edging toward overbought levels and a double top here is not outside the realm of possibility, but no confirmation of reversal is available for now. As such, we will remain on the sidelines for now.
Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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