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Forex: AUD/USD Technical Analysis – Bulls Flirt with 0.95 Level

Forex: AUD/USD Technical Analysis – Bulls Flirt with 0.95 Level

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
  • Near-term resistance is at 0.9509 (38.2%); a break above that eyes 0.9714 (50% Fib)
  • The first major layer of support is at 0.9344, the June 26 high. We continue to holdlong

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

dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – Bulls Flirt with 0.95 Level

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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