Forex: AUD/USD Technical Analysis – 0.95 Figure Seen Ahead

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Talking Points

  • Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
  • A break above the June 26 high (0.9344) targets the 38.2% Fib retracement at 0.9509
  • Near-term support is at 0.9220, the August 12 high. We continue to holdlong.

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dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – 0.95 Figure Seen Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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