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AUD/USD Long Trade Triggered

Ilya Spivak

AUD/USD Technical Strategy: Long at 0.9189, Targeting 0.9640


Prices bounced as expected, with a pronounced bullish Piercing Line candlestick pattern on the weekly chart hinting at continued gains ahead. Positive RSI divergence bolsters the case for an upside scenario. We will now enter long in line with our fundamental outlook, initially targeting a multi-month horizontal pivot at 0.9640. A stop-loss will be activated on a close beneath 0.8847.


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Forex_Strategy_AUDUSD_Long_Trade_Triggered_body_Picture_5.png, AUD/USD Long Trade Triggered

Weekly Chart - Created Using FXCM Marketscope 2.0



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


To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak


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