DailyFX

Forex: AUD/USD Technical Analysis – Sinking to 0.93 Figure

Ilya Spivak

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • Prices turned lower as expected after putting in a Bearish Engulfing candle pattern

  • A break below 0.9409 (38.2% Fib) has exposed 0.9302 (50% Fib); under that eyes 0.9195 (61.8% Fib)

  • Reversing back above 0.9409 takes aim at the area 0.9509-42 (channel bottom, Fib cluster)

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

dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Sinking to 0.93 Figure
dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Sinking to 0.93 Figure

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.
Learn forex trading with a free practice account and trading charts from FXCM.

and

Recommended Stories