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Forex Strategy: AUD/USD Aiming Below 0.88?

Forex Strategy: AUD/USD Aiming Below 0.88?

2013-12-30 11:16:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • AUD/USD Technical Strategy: Waiting to sell as near-term setup hints at bounce
  • Prices turned lower as expected after putting in a Three Inside Down candle pattern
  • A close below 0.8890 (50% Fib exp.) has exposed 0.8751 (channel bottom)

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

Forex_Strategy_AUDUSD_Aiming_Below_0.88_body_Picture_5.png, Forex Strategy: AUD/USD Aiming Below 0.88?

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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