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Forex: AUD/USD Technical Analysis – Bulls Lose Grip on 0.95

Forex: AUD/USD Technical Analysis – Bulls Lose Grip on 0.95

2013-10-30 01:20:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices turned lower as expected after putting in a Bearish Engulfing candle pattern
  • A break of support is in the 0.9517-22 (Sep top, 50% Fib) has exposed 0.9461 (61.8% Fib)
  • Below support eyes 0.9392 (76.4% Fib); back above 0.9522 targets 0.9573 (38.2% Fib)

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

dailyclassics_aud-usd_body_Picture_10.png, Forex: AUD/USD Technical Analysis – Bulls Lose Grip on 0.95

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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