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Talking Points
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AUD/USD Technical Strategy: Sidelines Preferred
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Limited Follow-Through For Candlesticks On The Daily
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Awaiting Break From 0.8660 to 0.8900 Trading Range
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AUD/USD’s intraday volatility has been met with little directional follow-through leaving an ensemble of Dojis in its path. The candlestick formations 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
Candlestick patterns on the four hour chart have helped signal intraday turning points within AUD/USD’s recent range. Yet as prices compress further the most recent formations have seen a lackluster response from traders. This leaves a more constructive setup desired for playing the pair.
AUD/USD: Price Compression Continues
4 Hour Chart - Created Using FXCM Marketscope 2.0 Volume Indicator Available Here
By David de Ferranti Currency Analyst DailyFX
Follow David on Twitter: @Davidde
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