Forex: AUD/USD Technical Analysis – Upside Hurdle Above 0.94
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- Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
- A break of resistance at 0.9430 (23.6% Fib expansion) exposes 0.9523 (38.2% level)
- Near-term support is at 0.9284 (38.2% Fib retracement); 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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