AUD/USD Technical Analysis– Prices broke below support at 0.9260, the 38.2% Fibonacci expansion, to expose the 50% level at 0.9135. A further push beneath that eyes the 61.8% level at 0.9010. The 0.9260 level has been recast as near-term resistance, with a reversal back above that aiming for the 23.6% Fib at 0.9415.
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
- Basic Materials Industry
- Finance Trading