AUD/USD Doji Denotes Deliberation From Traders Near Key Support
- AUD/USD Technical Strategy: Sidelines Preferred
- 0.9210 mark continues to provide support
- Traders look past bullish signals in intraday trade
The Australian Dollar bulls remain prepared to support the currency at the 0.9210 mark. While a Doji indicates some hesitation from the bears, a key reversal candlestick pattern remains absent on the daily, which suggests a recovery may be limited.
AUD/USD: Doji Suggests Trader Indecision Near 0.9210
Daily Chart - Created Using FXCM Marketscope 2.0
Despite a couple bullish signals near support at 0.9210/3 in intraday trade, a recovery for the Aussie has failed to gain traction. This casts doubt over the potential for a bounce over the session ahead, which would likely be limited by sellers sitting at the 93 US cent handle.
AUD/USD: Recovery Fails To Gain Traction
4 Hour Chart - Created Using FXCM Marketscope 2.0
By David de Ferranti, Currency Analyst, DailyFX
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