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Forex Strategy: AUD/USD Turns Lower as Expected

Forex Strategy: AUD/USD Turns Lower as Expected

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • AUD/USD Technical Strategy: Pending short, waiting for attractive risk/reward
  • Prices turned lower as expected after putting in a Three Inside Down candle pattern
  • A close below 0.9348 (23.6% Fib exp.) initially exposes 0.9094 (38.2% Fib exp.)

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

Forex_Strategy_AUDUSD_Turns_Lower_as_Expected_body_Picture_5.png, Forex Strategy: AUD/USD Turns Lower as Expected

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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