Forex: AUD/USD Technical Analysis – Coiling Up at Support
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- Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
- A pullback sees support in the 0.9344-77 area; a break below that exposes 0.9284 (38.2% Fib)
- Near-term resistance is at 0.9528 (Sep 18 high); we continue to holdlong
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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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