U.S. Markets closed

AUD/USD Technical Analysis: Aussie Attempts a Recovery

Ilya Spivak


AUD/USD Technical Analysis – Prices bounced as expected after putting in a Hammer candlestick above resistance-turned-support at the top of a falling channel set from April. Near-term resistance is in the 0.8997-0.9035 area, with a break above that eyeing 0.9325. Alternatively, a move below the channel barrier aims for the 38.2% Fibonacci expansion at 0.8712.


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


dailyclassics_aud-usd_body_Picture_9.png, AUD/USD Technical Analysis: Aussie Attempts a Recovery

Daily 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


To be added to Ilya's e-mail distribution list, please CLICK HERE


New to FX? Watch this Video. For live market updates, visit the Real Time News Feed



DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.