AUD/USD Technical Analysis– Prices are testing above resistance at 10493, the 38.2% Fibonacci expansion. A break above that targets the 50% level at 1.0539. Near-term support is at 1.0438, the 23.6% Fib, with a drop back beneath that eyeing the April 8 swing low at 1.0348.
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 email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE