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Forex: AUD/USD Technical Analysis – Is a Pullback Brewing?

Forex: AUD/USD Technical Analysis – Is a Pullback Brewing?

2013-10-22 12:17:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • A Dark Cloud Cover candle pattern hints a turn lower may be ahead
  • Breaking below 0.9598 (50% Fib, trend line) initially exposes 0.9523 (38.2% Fib)
  • Above resistance targets 0.9766 (76.4% 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 – Is a Pullback Brewing?

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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