AUD/USD Technical Analysis– Prices gapped below the 23.6% Fibonacci retracement 1.0228 and are now testing back above the barrier as resistance. A break higher targets a falling channel top at 1.0274. Near-term support is at 1.0163, with a break beneath that eyeing the March 4 low at 1.0114. We continue to hold long.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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