Forex: AUD/USD Technical Analysis – Support Below 0.93 Tested
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
- A pullback has exposed 0.9284 (38.2% Fib); a break below that targets 0.9209 (50% Fib)
- Near-term resistance is at 0.9377 (23.6% Fib); we continue to holdlong for now
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? Watch this Video
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.