AUD/USD Technical Analysis 03.29.2013


AUD/USD Technical Analysis– Prices recoiled from resistance at 1.0483, the 76.4% Fibonacci retracement, after putting in a Bearish Engulfing candlestick pattern. Sellers are now testing support at 1.0412, the 61.8% level, with a break below that targeting the 1.0355-65 area. Alternatively, a reversal above resistance aims for the multi-month range top at 1.0597. We continue to hold long.

View photo

Forex_AUDUSD_Technical_Analysis_03.29.2013_body_Picture_5.png, AUD/USD Technical Analysis 03.29.2013

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)