AUD/USD Technical Analysis: Rebound Takes First Step


AUD/USD Technical Analysis– Prices are attempting a recovery from support at 0.9388, the 38.2% Fibonacci expansion as positive RSI divergence continues to warn of ebbing bearish momentum and hints at a reversal. Near-term resistance is at 0.9542, the 23.6% level, with a move back above that targeting the June 3 high at 0.9791. Alternatively, a push beneath 0.9388 exposes the 50% Fib at 0.9264.

View photo

dailyclassics_aud-usd_body_Picture_9.png, AUD/USD Technical Analysis: Rebound Takes First Step

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail 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)