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Forex: AUD/USD Technical Analysis – Sellers Aiming Below 0.91

Forex: AUD/USD Technical Analysis – Sellers Aiming Below 0.91

2013-11-13 05:20:00
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 at 0.9348 (23.6% Fib exp.) exposes 0.9094 (38.2% Fib exp.)
  • Reversing back above 0.9348 targets 0.9564 (rising channel bottom from Sep)

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

dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Sellers Aiming Below 0.91

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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