Talking Points
- AUD/USD Technical Strategy: Sidelines Preferred
- Limited Follow-Through For Candlesticks On The Daily
- Awaiting Break From 0.8660 to 0.8900 Trading Range
AUD/USD continues to endure a consolidation within its recent band with a deluge of short-body candlesticks. The patterns indicate indecision from traders and leave a more constructive setup desired to offer a clearer technical bias.
AUD/USD: Awaiting Break From Range As Intraday Swings Continue
Daily Chart – Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
Choppy trading conditions on the four hour chart have given rise to several candlestick formations. Yet follow-through remains lacking. This leaves a cleaner picture desired to provide more actionable cues.
AUD/USD: Intraday Volatility Leaves Clearer Cues Desired
4 Hour Chart – Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
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