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Forex: AUD/USD Technical Analysis – 0.93 Figure Under Fire

Ilya Spivak

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Talking Points

  • Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
  • A pullback through support in the 0.9344-77 area on daily closing basis exposes 0.9284 (38.2% Fib)
  • Near-term resistance is at 0.9528 (Sep 18 high); we continue to holdlong for now

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

dailyclassics_aud-usd_1_body_Picture_9.png, Forex: AUD/USD Technical Analysis – 0.93 Figure Under Fire

Daily Chart - Created Using FXCM Marketscope 2.0

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

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