Forex: AUD/USD Technical Analysis – 5-Month Support Broken?
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices are moving lower as expected after showing a Bearish Engulfing candle setup
- A close below 0.8847-64 (Aug’13 low, 23.6% Fib) exposes 0.8727 (38.2% Fib)
- Near-term resistance is at the 0.90 figure, followed by 0.9085 (January 13 high)
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? START HERE
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.