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Forex: AUD/USD Technical Analysis – Continued Gains Expected

Forex: AUD/USD Technical Analysis – Continued Gains Expected

2013-09-12 11:30:00
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
  • Break of resistance in the 0.9256-95 area (range top, 23.6% Fib) has exposed 0.9509 (38.2% Fib)
  • We continue to holdlong from 0.9189 with an upside objective of 0.9640

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

dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – Continued Gains Expected

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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