AUD/USD Technical Analysis– Prices bounced from support at 0.9580, the June 2012 low, as expected. Buyers are now testing near-term resistance at 0.9776, the 23.6% Fibonacci retracement, with a break above that targeting the 38.2% level at 0.9930.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE