38.2% retracement: AUD/USD traded up to 0.9527 before stalling. The 38.2% retracememt market was at 0.9510. As the week winds down AUD/USD is in a second day of bearish correction against the initial FOMC reaction and testing a rising channel seen in the 4H chart. Rising channel: The 4H chart shows price tagging the rising channel support as it tests the 0.94 handle. A the 9/20 US session gets underway, it is holding. A break above the 0.9460 high on the day can revive the bullish outlook toward at least 0.95 and the week’s highs around 0.9525. Failure to push above 0.9460 however keeps a near-term bearish correction ... (full story)