Forex: AUD/USD Technical Analysis – Aussie Loses Hold on 0.90
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- Prices put in a Bearish Engulfing candlestick pattern, hinting at weakness ahead
- A break below 0.8847-64 (Aug’13 low, 23.6% Fib) exposes 0.8727 (38.2% Fib)
- Near-term resistance is at 0.9085 (January 13 high)
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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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