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Forex: AUD/USD Technical Analysis – Buyers Try to Expose 0.97

Forex: AUD/USD Technical Analysis – Buyers Try to Expose 0.97

2013-10-21 12:10:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
  • A break above resistance at 0.9673 (61.8% Fib) would expose 0.9766 (76.4% Fib)
  • Near-term support is at 0.9598 (50% Fib); we continue to hold long from 0.9189

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

dailyclassics_aud-usd_body_Picture_11.png, Forex: AUD/USD Technical Analysis – Buyers Try to Expose 0.97

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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