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AUD/USD touches highest since Jan 3 then fades

Discussion in 'Technical Analysis' started by ForexLive, Feb 24, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Australian dollar down 12 pips to 0.7215 AUD/USD reached as high as 0.7259 earlier today but has faded alongside broad sentiment and commodities. The turn ends a roughly 200 pips rally from 0.7068 since the start of the week. It was a rip from below support and quickly above the February highs. That kind of turnaround is a bullish signal.

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