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Forex: AUD/USD Technical Analysis – Bulls Overcome 0.90 Anew

Forex: AUD/USD Technical Analysis – Bulls Overcome 0.90 Anew

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
  • We continue to hold a long positionas the focus turns to trend line resistance at 0.9094
  • Break above 0.9094 targets the 0.9256-95 area (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 – Bulls Overcome 0.90 Anew

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

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

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