Currency Analyst since 2010

FBS: bearish pattern at AUD/USD

AUD/USD was capped yesterday by the 200-day MA at 0.9740 and the 50% Fibo retracement of the decline from April to August and declined to the levels just above $0.9600.

There’s a bearish engulfing on the daily chart. The odds are that Aussie corrects towards the middle Bollinger Band which is currently below $0.9500. Support is at $0.9590 (Tenkan-sen), $0.9535 and $0.9518/10 (Kijun-sen, 38.2% Fibo). Resistance lies at $0.9680, $0.9713, $0.9742 and $0.9792.

Chart. Daily AUD/USD 

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