U.S. Markets close in 1 hr 5 mins

AUD/USD Technical Analysis 02.12.2013

Ilya Spivak

AUD/USD Technical Analysis- Prices turned lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern below multi-month range resistance in the 1.0578-1.0624 area. Sellers are now testing below support at 1.0254, the 76.4% Fibonacci retracement. A break below that exposes the range bottom at 1.0173. Near-term resistance is at 1.0320, the 61.8% level.

Forex_AUDUSD_Technical_Analysis_02.08.2013_body_Picture_5.png, AUD/USD Technical Analysis 02.12.2013

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.