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AUD/USD Bulls Lose Steam On Fading Momentum

Published 11/14/2014, 04:55 AM
Updated 07/09/2023, 06:31 AM

Talking Points
  • Strategy: Flat
  • Doji Suggests Bulls Have Lost Momentum
  • Evening Star Offered An Early Warning

AUD/USD traders are showing signs of indecision as denoted by a Doji formation on the daily. As noted in recent reports the lingering signs of a near-term downtrend meant a clean run higher was likely to prove difficult. Yet a more definitive bearish reversal signal is left desired to shift the immediate risk lower. A slide back under 0.8660 would return the risks to the recent lows near 0.8540.

AUD/USD: Bulls Lose Steam As A Doji Emerges On The Daily

AUD/USD: Bulls Lose Steam

An Evening Star on the four hour chart offered an early warning sign that the bears were looking to return to the pair. A close below the 0.8660/80 barrier would open the prospect of a run on the 0.8550 floor.

AUD/USD: Evening Star Offered An Early Warning In Intraday Trade

AUD/USD: Early Warning

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