AUD/USD Technical Analysis 04.05.2013

DailyFX

AUD/USD Technical Analysis– Prices pulled back from resistance at 1.0483, the 76.4% Fibonacci retracement, to challenge the 61.8% level at 1.0413. A break below that targets the 1.0355-65 area. Alternatively a reversal above resistance eyes the multi-month range top at 1.0597. We continue to hold long for now.

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Forex_AUDUSD_Technical_Analysis_04.05.2013_body_Picture_5.png, AUD/USD Technical Analysis 04.05.2013

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

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