AUD/USD Remains Range-Bound As Dojis Highlight Hesitation
- 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 continues to endure a consolidation within its recent band with a deluge of short-body candlesticks. The patterns indicate indecision from traders and leave a more constructive setup desired to offer a clearer technical bias.
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 cleaner picture desired to provide more actionable cues.
AUD/USD: Intraday Volatility Leaves Clearer Cues Desired
4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
Follow David on Twitter: @Davidde
To receive David’s analysis directly via email, please sign up here
Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.