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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

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


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