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Forex: AUD/USD Technical Analysis – A Bottom Set Above 0.88?

Forex: AUD/USD Technical Analysis – A Bottom Set Above 0.88?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • 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.)

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

dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – A Bottom Set Above 0.88?

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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