AUD/USD Technical Analysis 05.08.2013

DailyFX

AUD/USD Technical Analysis– Prices are testing support at 1.0181, the bottom of a range that has contained the pair since late July 2012. A break below that targets the bottom of a Falling Wedge chart pattern at 1.0137, followed by the March 4 low at 1.0114. Formerly broken channel bottom resistance is at 1.0231. A push back above that eyes the Wedge top at 1.0309.

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Forex_AUDUSD_Technical_Analysis_05.08.2013_body_Picture_5.png, AUD/USD Technical Analysis 05.08.2013

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

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