Tanalys

Forex Strategy: AUD/USD Dark Cloud Cover Warning of Declines Ahead

To receive David’sanalysis directly via email, please sign up here

Talking Points

The Aussie has once again encountered selling pressure at the 0.9065 level that continues to restrain gains for the unit. A Dark Cloud Cover candlestick pattern may be providing an ominous signal that a more meaningful decline is about to play out. Traders will likely be eyeing the 0.8920 level as a potential point of support for the AUD/USD.

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

Four Hour Chart – Created Using FXCM Marketscope 2.0

— Written by David de Ferranti, Market Analyst, FXCM

Contact and follow David on Twitter: @Davidde

New to FX? START HERE

For live market updates, visit the Real Time News Feed

Exit mobile version