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Forex: AUD/USD Technical Analysis – Double Bottom in the Works?

Forex: AUD/USD Technical Analysis – Double Bottom in the Works?

2013-12-24 10:57:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices put in a bullish Morning Star candle pattern, hinting a move higher is ahead
  • A bounce sees resistance at 0.90 (channel top); above that eyes 0.9177 (38.2% Fib ret.)
  • Support is at 0.8847, the August 2013 swing low

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

dailyclassics_aud-usd_body_Picture_5.png, Forex: AUD/USD Technical Analysis – Double Bottom in the Works?

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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