AUD/USD Technical Analysis 05.29.2013

DailyFX

AUD/USD Technical Analysis– Prices broke support in the 0.9682-95 area, marked by the June 1 daily close and the 23.6% Fibonacci expansion. Sellers have now challenged the 0.9580-84 region, the intersection of the June 1 low and the 38.2% level, with a further push beneath that eyeing the 50% Fib at 0.9505. Alternatively, a turn back above 0.9695 targets the May 21 swing highat 0.9841.

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Forex_AUDUSD_Technical_Analysis_05.29.2013_body_Picture_5.png, AUD/USD Technical Analysis 05.29.2013

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

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