AUD/USD Technical Analysis – Prices broke support at 0.8943, the 23.6% Fibonacci expansion, exposing falling channel resistance-turned-support at 0.8829. A further push below that eyes the 38.2% level at 0.8712. Alternatively, a reversal back above 0.8943 aims for the July 3 low at 0.9035.
Confirm your chart-based trade setups with the Technical Analyzer.
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
- Finance Trading
- Basic Materials Industry
- Technical Analysis