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AUD/USD Finds Resistance Below 1.03 Figure

Ilya Spivak

AUD/USD Technical Strategy: Flat


Prices are challenging the 23.6% Fibonacci expansion at 1.0330. A break above that aims for the 38.2% level at 1.0399. Near-term support is at 1.0220, the April 23 low, followed by the multi-month range bottom set from late July 2012 at 1.0181. Current positioning doesn’t offer an actionable trade setup and we will stand aside for now.


Forex_Analysis_AUDUSD_Finds_Resistance_Below_1.03_Figure_body_Picture_5.png, AUD/USD Finds Resistance Below 1.03 Figure

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Written by Ilya Spivak, Currency Strategist for Dailyfx.com


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