AUD/USD Technical Analysis– Prices broke support in the 0.9542-80 area, marked by the June 2012 low and the 23.6% Fibonacci expansion, to test the 38.2% level at 0.9388. A further push downward targets the 50% Fib at 0.9264. Alternatively, a move back above 0.9580 eyes the June 3 high at 0.9791. Positive RSI divergence warns of ebbing bearish momentum.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Basic Materials Industry
- Finance Trading
- Technical Analysis