Forex: AUD/USD Technical Analysis – Sinking to 0.93 Figure
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- Prices turned lower as expected after putting in a Bearish Engulfing candle pattern
- A break below 0.9409 (38.2% Fib) has exposed 0.9302 (50% Fib); under that eyes 0.9195 (61.8% Fib)
- Reversing back above 0.9409 takes aim at the area 0.9509-42 (channel bottom, Fib cluster)
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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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