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AUD/USD Technical Analysis 02.06.2013

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 have now pushed through rising trend line support set from late October and are testing below the December 26 low at 1.0344. A confirmed break below that exposes the November 16 bottom at 1.0286. The trend line, now at 1.0403, has been recast as resistance.

Forex_AUDUSD_Technical_Analysis_02.06.2013_body_Picture_1.png, AUD/USD Technical Analysis 02.06.2013

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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