AUD/USD Technical Analysis 02.14.2013

DailyFX

AUD/USD Technical Analysis- Prices moved higher as expected after putting in a bullish Piercing Line candlestick pattern, breaking the 23.6% Fibonacci retracement at 1.0314. The bulls now stand to challenge the 38.2% level at 1.0368, with a move above that eyeing trend line support-turned-resistance at 1.0415. The 1.0314 level has been recast as support.

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Forex_AUDUSD_Technical_Analysis_02.14.2013_body_Picture_5.png, AUD/USD Technical Analysis 02.14.2013

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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