Forex: AUD/USD Technical Analysis – Cautiously Grinding Higher

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Talking Points

  • Prices are starting to rise as expected after showing a Morning Star candle pattern
  • Resistance is at 0.9040 (23.6% Fib); above that targets 0.9177 (38.2% Fib)
  • Support is in the 0.8782-0.8847 area (Aug’13 low, channel top, 23.6% Fib exp.)

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dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Cautiously Grinding Higher

Daily Chart - Created Using FXCM Marketscope 2.0

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

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