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Forex: AUD/USD Technical Analysis – Struggling to Build Higher

Forex: AUD/USD Technical Analysis – Struggling to Build Higher

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices put in a bullish Piercing Line candle pattern, hinting at gains ahead
  • Above 0.8819-58 (former support, 14.6% Fib exp.) eyes 0.8918 (23.6% Fib exp.)
  • Near-term support is at 0.8659 (Jan 24 swing low)

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

dailyclassics_aud-usd_body_Picture_8.png, Forex: AUD/USD Technical Analysis – Struggling to Build Higher

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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