AUD/USD Technical Analysis 05.23.2013

DailyFX

AUD/USD Technical Analysis– Prices are testing support in the 0.9663-82 area, marked by the November 23 2011 low and the 23.6% Fibonacci expansion. A break below that eyes the 0.9580-84 region. Near-term resistance is at 0.9841, the May 21 swing high. Positive RSI divergence argues in favor of an upside scenario.

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Forex_AUDUSD_Technical_Analysis_05.23.2013_body_Picture_5.png, AUD/USD Technical Analysis 05.23.2013

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

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