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AUD/USD Compression Continues As Candlesticks Indicate Indecision

AUD/USD Compression Continues As Candlesticks Indicate Indecision

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Sidelines Preferred
  • Limited Follow-Through For Candlesticks On The Daily
  • Awaiting Break From 0.8660 to 0.8900 Trading Range

AUD/USD remains trapped within its narrow trading band between 0.8660 and 0.8885 with an ensemble of Dojis evident on the daily. The candlestick formations indicate indecision from traders and leave a more constructive setup desired to offer a clearer technical bias.

AUD/USD: Awaiting Break From Range As Intraday Swings Continue

AUD/USD Compression Continues As Candlesticks Indicate Indecision

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

Choppy trading conditions on the four hour chart have given rise to several candlestick formations. Yet follow-through remains lacking. This leaves a more constructive setup desired for playing the pair.

AUD/USD: Price Compression Continues

AUD/USD Compression Continues As Candlesticks Indicate Indecision

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

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