AUD/USD Technical Analysis – Topping Near the 0.94 Figure?

| 14 april, 2014 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • AUD/USD Technical Strategy: Flat
  • Support: 0.9363 (38.2% Fib exp.), 0.9303 (23.6% Fib exp.)
  • Resistance: 0.9412 (50% Fib exp.), 0.9461 (61.8% Fib exp.)

The Australian Dollar put in a Shooting Star candlestick below resistance at 0.9412, the 50% Fibonacci expansion, warning of indecision and hinting a turn lower may be ahead. A break below support at 0.9363, the 38.2% level, targets the 23.6% Fib at 0.9303. Alternatively, a push above resistance on a daily closing basis aims forthe 61.8% Fib at 0.9461.

The available range between near-term support and resistance is too narrow to make for an attractive trade setup for a strategy using a stop-loss activated on a daily closing basis (as is the case for our approach) given a 20-day ATR reading of 70. We will remain on the flat for now.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_aud-usd_body_Picture_9.png, AUD/USD Technical Analysis  Topping Near the 0.94 Figure?

Daily Chart – Created Using FXCM Marketscope 2.0

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

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *