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Forex Strategy: AUD/USD Down Trend Ready to Resume?

Forex Strategy: AUD/USD Down Trend Ready to Resume?

2013-11-08 11:47:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • AUD/USD Technical Strategy: Pending short, waiting for attractive risk/reward
  • Prices put in a bearish Three Inside Down candle pattern, hinting at weakness
  • Support is at 0.9348 (23.6% Fib exp.), below that eyes 0.9094 (38.2% Fib exp.)

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

Forex_Strategy_AUDUSD_Down_Trend_Ready_to_Resume_body_Picture_5.png, Forex Strategy: AUD/USD Down Trend Ready to Resume?

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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