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Forex: AUD/USD Technical Analysis – Retesting September Top

Ilya Spivak

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Talking Points

  • Prices turned lower as expected after putting in a Bearish Engulfing candle pattern
  • Support is in the 0.9517-22 (Sep top, 50% Fib); breaking lower targets 0.9461 (61.8% Fib)
  • Back above 0.9573 (38.2% Fib) exposes 0.9573 (38.2% Fib); we are holding long for now

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dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – Retesting September Top

Daily Chart - Created Using FXCM Marketscope 2.0

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

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