Forex: AUD/USD Technical Analysis – Selloff Stalls Above 0.94

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Talking Points

  • Prices turned lower as expected after putting in a Bearish Engulfing candle pattern
  • Support is now at 0.9409 (38.2% Fib); breaking below that targets 0.9302 (50% Fib)
  • Above 0.9498-542 (channel bottom, Sep top, 23.6% Fib) exposes the 0.9600 Figure

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dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Selloff Stalls Above 0.94

Daily Chart - Created Using FXCM Marketscope 2.0

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

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