AUD/USD Technical Analysis- Prices put in a bullish Piercing Line candlestick pattern, hinting a move higher is ahead. Positive RSI divergence reinforces the case for an upside scenario. A break above initial resistance at 1.0314, the 23.6% Fibonacci retracement targets the 38.2% level at 1.0368. Near-term support is at 1.0226.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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