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AUD/USD Remains Range-Bound As Dojis Highlight Hesitation

AUD/USD Remains Range-Bound As Dojis Highlight Hesitation

2014-10-24 06:50:00
David de Ferranti, Currency Analyst
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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 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.

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

AUD/USD Remains Range-Bound As Dojis Highlight Hesitation

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

AUD/USD Remains Range-Bound As Dojis Highlight Hesitation

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

By David de Ferranti, Currency Analyst, DailyFX

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