U.S. Markets open in 8 hrs 49 mins

AUD/USD Technical Analysis 04.12.2013

Ilya Spivak

AUD/USD Technical Analysis– Prices put in a Doji candlestick below resistance in the 1.0584-97 area, marked by the 61.8% Fibonacci expansion and a multi-month range top, pointing to indecision and warning of a possible reversal lower. A drop beneath the 50% Fib at 1.0539 exposes the 38.2% expansion at 1.0493. Alternatively, a move above resistance targets the 76.4% level at 1.0639

Forex_AUDUSD_Technical_Analysis_04.12.2013_body_Picture_5.png, AUD/USD Technical Analysis 04.12.2013

Daily Chart - Created Using FXCM Marketscope 2.0

Want to back-test your technical trading strategy? Download the historical data here.

--- 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.