AUD/USD Technical Analysis 05.13.2013

DailyFX

AUD/USD Technical Analysis– Prices broke support at the bottom of a multi-month range in the 1.0163-81 area, a barrier reinforced by the 38.2% Fibonacci expansion at 1.0137. Sellers are now challenging the 50% level at 0.9986, with a break below that aiming for the 61.8% Fib at 0.9836. The 1.0137 mark has been recast as near-term resistance.

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Forex_AUDUSD_Technical_Analysis_05.10.2013_body_Picture_5.png, AUD/USD Technical Analysis 05.13.2013

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

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