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Forex: AUD/USD Technical Analysis – Resistance Seen at 0.9040

Forex: AUD/USD Technical Analysis – Resistance Seen at 0.9040

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are moving higher as expected after showing a Morning Star candle pattern
  • Resistance is at 0.9040 (23.6% Fib ret.); above that targets 0.9177 (38.2% Fib ret.)
  • Near-term support is at 0.8847, the August 2013 swing low

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

dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Resistance Seen at 0.9040

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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