AUD/USD Consolidation May Continue As Doji Signals Indecision
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Talking Points
- AUD/USD Technical Strategy: Pending Long
- Doji signals hesitation from traders near key support
- Harami on the four hour timeframe awaiting confirmation
AUD/USD is awaiting guidance near the 0.9320 mark with candlestick reversal signals lacking on the daily chart. A Doji offers a signal of indecision amongst traders, and suggests the pair’s consolidation beneath the 0.9440 level of resistance may be set to continue.
AUD/USD: Doji Signals Hesitation Near Support At 0.9320
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
Examining the four hour timeframe; a Harami pattern suggested a recovery was on the cards for the Aussie. With support nearby at 0.9360 and an absence of bearish patterns, further gains may be possible over the session ahead.
AUD/USD: Harami Yields Intraday Recovery
4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
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