Talking Points
- AUD/USD Technical Strategy: Sidelines Preferred
- Limited Follow-Through For Candlesticks On The Daily
- Dark Cloud Cover On H4 Awaits Confirmation
AUD/USD’s wild intraday swings continue to leave a plethora of candlestick patterns in its path. Yet the reversal signals on the daily continue find limited follow-through. A daily close outside the recent 0.8660 to 0.8900 range would be required to suggest a clearer directional bias.
AUD/USD: Awaiting Break From Range As Wild Swings Continue
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
Candlestick patterns have helped signal intraday turning points within AUD/USD’s recent range. The latest Dark Cloud Cover formation offers an ominous warning, yet awaits confirmation to suggest a retreat over the session ahead. Buying interest is likely to be renewed at the critical 0.8660 barrier.
AUD/USD: Dark Cloud Cover Offers Ominous Warning
4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
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