Forex: AUD/USD Technical Analysis – Bulls Push Toward 0.93

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Talking Points

• Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89

• We continue to hold long on a test of the 0.9256-95 area (range top, 23.6% Fib retrace)

• Falling trend line resistance-turned support is now at 0.9068

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dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – Bulls Push Toward 0.93

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

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