News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Forex Analysis: AUD/USD Classic Technical Report 01.29.2013

Forex Analysis: AUD/USD Classic Technical Report 01.29.2013

Ilya Spivak, Head Strategist, APAC

Prices turned lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern below multi-month range resistance in the 1.0578-1.0624 area. Buyers are now mounting a shallow recovery from support at a rising trend line set from late October (1.0391). Near-term resistance is at 1.0537, marked by a rising trend line set from the December 26 low, with a break above that targeting 1.0578-1.0624 anew. Alternatively, a reversal through support eyes swing lows at 1.0344 and 1.0286.

Forex_Analysis_AUDUSD_Classic_Technical_Report_01.29.2013_body_Picture_1.png, Forex Analysis: AUD/USD Classic Technical Report 01.29.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES