Forex: AUD/USD Technical Analysis – Double Bottom in Place?
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- 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)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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