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Forex: AUD/USD Technical Analysis – Reversal Higher in the Cards?

Forex: AUD/USD Technical Analysis – Reversal Higher in the Cards?

2013-12-30 04:37:00
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
  • Above 0.8925-56 (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)

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

dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Reversal Higher in the Cards?

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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