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Forex Strategy: AUD/USD Long Position Still in Play

Forex Strategy: AUD/USD Long Position Still in Play

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • AUD/USD Technical Strategy: Holding long from 0.9189; aiming above 0.9714 (50% Fib)
  • Last week’s close above the first target at 0.9640 triggered moving the stop-loss to breakeven
  • A weekly close above 0.9714 exposes the next upside objective at 0.9919 (61.8% Fib)

Confirm your chart-based trade setups with the Technical Analyzer.

Forex_Strategy_AUDUSD_Long_Position_Still_in_Play_body_Picture_5.png, Forex Strategy: AUD/USD Long Position Still in Play

Weekly 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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