AUD/USD Technical Analysis: Aussie Attempts a Recovery

DailyFX

AUD/USD Technical Analysis – Prices bounced as expected after putting in a Hammer candlestick above resistance-turned-support at the top of a falling channel set from April. Near-term resistance is in the 0.8997-0.9035 area, with a break above that eyeing 0.9325. Alternatively, a move below the channel barrier aims for the 38.2% Fibonacci expansion at 0.8712.

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dailyclassics_aud-usd_body_Picture_9.png, AUD/USD Technical Analysis: Aussie Attempts a Recovery

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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