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Forex: AUD/USD Technical Analysis – Cautiously Drifting Upward

Forex: AUD/USD Technical Analysis – Cautiously Drifting Upward

2014-01-10 05:05:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices are starting to edge up as expected after showing a Morning Star candle pattern
  • Resistance is at 0.9040 (23.6% Fib); above that targets 0.9177 (38.2% Fib)
  • Support is in the 0.8782-0.8847 area (Aug’13 low, channel top, 23.6% Fib exp.)

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

dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – Cautiously Drifting Upward

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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