AUD/USD Technical Analysis: Down Trend Boundary at Risk

DailyFX

AUD/USD Technical Analysis– Prices are rebounding as expected to test resistance at the top of a falling channel set from April, now at 0.9228. A break above this boundary initially exposes the 23.6% Fibonacci retracement at the 0.9400 figure. Near-term support is at 0.9035, the July 3 swing low.

View photo

.
dailyclassics_aud-usd_body_Picture_3.png, AUD/USD Technical Analysis: Down Trend Boundary at Risk

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)