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.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Breaking news

Federal Reserve Announce $2.3 Trillion in Loans to Support Economy

Real Time News
  • Natural Gas Price Chart Exposes Bearish Signals - Nat Gas Forecast More details in the link below: https://www.dailyfx.com/forex/technical/article/special_report/2020/04/09/Natural-Gas-Price-Chart-Exposes-Bearish-Signals-Nat-Gas-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/Gc2vdB14ha
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.24% 🇳🇿NZD: 1.01% 🇪🇺EUR: 0.66% 🇨🇦CAD: 0.55% 🇨🇭CHF: 0.50% 🇯🇵JPY: 0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ezlPWmoQsv
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.32% Wall Street: 2.04% US 500: 1.98% France 40: 1.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/oxdKK48tbV
  • New York Fed Purchases $14 B in Treasury Coupons
  • Democrats in the Senate block $250 billion small business stimulus plan $SPX
  • Oil on a roll...Brent =6.5% at $36.50/bbl...#oott #brent @DailyFX https://t.co/PzgnGu27p6
  • RT @lampidicsparrow: 20mbpd https://t.co/M05rMBbPAK
  • Hey traders! We are yet again back with a daily market update with @DailyFX Chief Strategist, @JohnKicklighter he answers if we are heading into a recession and what are the key market 📈 information to look out for today and the weekend. https://t.co/kYxCym8rxf
  • OPEC+ and other are to discuss cuts as big as 20mbpd, according to on Russian source #OOTT
  • Fed Chair Powell: - Will only scale back support when economy is recovering $SPX
Forex: AUD/USD Technical Analysis – Double Bottom in Place?

Forex: AUD/USD Technical Analysis – Double Bottom in Place?

2013-09-03 03:20:00
Ilya Spivak, Head Strategist, APAC
Share:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • Bullish Engulfing pattern forms at support in 0.8823-0.8901 area (Aug2 close, 23.6% Fib exp.)
  • Candle setup hints a double bottom maybe forming and we continue to hold a long position
  • Break above 0.9035 initially exposes the 0.9256-95 region (range top, 23.6% Fib retracement)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Double Bottom in Place?

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

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

News & Analysis at your fingertips.