Forex: AUD/USD Technical Analysis – A Bottom Set Above 0.88?
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- Prices put in a bullish Morning Star candle pattern, hinting a move higher is ahead
- Breaking resistance at 0.8956 (14.6% Fib ret.) exposes 0.9040 (23.6% Fib ret.)
- Turning below 0.8847 (Aug’13 low, channel top) targets 0.8736 (23.6% Fib exp.)
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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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