AUD/USD Technical Analysis 03.20.2013

DailyFX

AUD/USD Technical Analysis– Prices are consolidating below resistance at 1.0412, the 61.8% Fibonacci retracement, and the 1.0355-65 area marked by the 50% level and a horizontal pivot level. A break lower exposes the 38.2% retracement at 1.0298. Alternatively, a push above resistance targets the 76.4% Fib at 1.0483.We continue to hold long.

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Forex_AUDUSD_Technical_Analysis_03.20.2013_body_Picture_5.png, AUD/USD Technical Analysis 03.20.2013

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

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