Forex: AUD/USD Technical Analysis – Support Below 0.93 Tested

Ilya Spivak
September 30, 2013

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Talking Points

  • Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
  • A pullback has exposed 0.9284 (38.2% Fib); a break below that targets 0.9209 (50% Fib)
  • Near-term resistance is at 0.9377 (23.6% Fib); we continue to holdlong for now

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

dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – Support Below 0.93 Tested
dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – Support Below 0.93 Tested

Daily Chart - Created Using FXCM Marketscope 2.0

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

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