AUD/USD Technical Analysis– Prices are testing support at 0.9185, the 38.2% Fibonacci expansion, with an Inverted Hammer candlestick hinting a bounce may be ahead. Initial resistance is at 0.9369, the 23.6% level, with a break above that targeting a falling trend line at 0.9625. Alternatively, a move below support eyes the 50% expansion at 0.9037.
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
- Finance Trading
- Basic Materials Industry
- Technical Analysis