AUD/USD Technical Analysis 02.01.2013


AUD/USD Technical Analysis- Prices turned lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern below multi-month range resistance in the 1.0578-1.0624 area. Sellers are now challenging rising trend line support set from late October (1.0398). A break lower exposes swing lows at 1.0344 and 1.0286. Alternatively, a reversal through resistance at 1.0485 targets the range top anew.

View photo

Forex_AUDUSD_Technical_Analysis_02.01.2013_body_Picture_1.png, AUD/USD Technical Analysis 02.01.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)