AUD/USD Technical Analysis 04.03.2013

DailyFX

AUD/USD Technical Analysis– Prices have launched a recovery from support at 1.0412, the 61.8% Fibonacci retracement. Near-term resistance is at 1.0483, the 76.4% level, with a break above that targeting the multi-month range top at 1.0597. Alternatively, a turn below support aims for the 1.0355-65 area. We continue to hold long.

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Forex_AUDUSD_Technical_Analysis_04.03.2013_body_Picture_5.png, AUD/USD Technical Analysis 04.03.2013

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

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