Forex: AUD/USD Technical Analysis – Bearish Continuation Questionable

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Talking Points

  • Prices broke support at 0.8985 (23.6% Fib exp.), exposing 0.8872 (38.2% Fib exp.)
  • Positive RSI divergence warns of ebbing selling pressure, warning of a reversal
  • Turning back above 0.8985 initially aims for 0.9166 (December 10 high)

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dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – Bearish Continuation Questionable

Daily Chart - Created Using FXCM Marketscope 2.0

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

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