Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

AUD/USD Bears Retreat Near Range-Bottom

Published 08/14/2014, 06:07 AM
Updated 07/09/2023, 06:31 AM

Talking Points

  • AUD/USD Technical Strategy: Sidelines Preferred
  • Dojis Highlight Hesitation Near Range-Bottom
  • Harami On H4 Warned Of An Intraday Correction

The Australian dollar has managed to climb back above the 0.9280 barrier after several Doji formations suggested hesitation from the bears to lead the currency lower. At this stage bullish reversal patterns remain absent on the daily, which casts doubt over the potential for a sustained recovery for the Aussie. A daily close below the range-bottom at 0.9210 would cast the immediate risk lower and open the door to a knock on 0.8990.

AUD/USD: Dojis Highlight Hesitation Near Range-Bottom

AUD/USD Daily Chart

Turning to the four hour chart for intraday signals; a Harami formation suggests the potential for a correction to nearby support at 0.9280. A close below the nearby floor would cast the spotlight on the pair’s recent lows near 0.9240.

AUD/USD: Harami Warned of An Intraday Correction

AUD/USD Daily Chart

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.