Forex: AUD/USD Technical Analysis – Bottoming Setup Still Valid
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- Prices put in a bullish Morning Star candle pattern, hinting a move higher is ahead
- Above 0.8945-56 (channel top, 14.6% Fib ret.) exposes 0.9040 (23.6% Fib ret.)
- Below support at 0.8847(Aug’13 low) aims for 0.8736 (23.6% Fib expansion)
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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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