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Forex: AUD/USD Technical Analysis – 4-Week Channel Top Broken

Ilya Spivak


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Talking Points


  • Prices followed a bullish Piercing Line candle setup with a break above channel resistance
  • The bulls now target 0.9482 (23.6% Fib exp.); above that exposes 0.9615 (38.2% Fib exp.)
  • Channel top resistance-turned-support is now at 0.9353


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


dailyclassics_aud-usd_body_Picture_12.png, Forex: AUD/USD Technical Analysis – 4-Week Channel Top Broken

Daily Chart - Created Using FXCM Marketscope 2.0




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


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