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Forex: AUD/USD Technical Analysis – Is Bearish Momentum Fading?

Forex: AUD/USD Technical Analysis – Is Bearish Momentum Fading?

2013-12-18 05:17:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Positive RSI divergence hints at a bounce as prices test 0.8882 (61.8% Fib exp.)
  • Reversing above resistance at 0.8936 (50% Fib exp.) exposes 0.8991 (38.2% Fib exp.)
  • Breaking below support targets 0.8815 (76.4% Fib exp)

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

dailyclassics_aud-usd_body_Picture_10.png, Forex: AUD/USD Technical Analysis – Is Bearish Momentum Fading?

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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