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AUD/USD Technical Analysis 05.14.2013

Ilya Spivak

AUD/USD Technical Analysis– Prices broke support at the bottom of a multi-month range in the 1.0163-81 area, a barrier reinforced by the 61.8% Fibonacci expansion at 1.0161. Sellers are now challenging the 123.6% level at 0.9938, with a break below that aiming for the 138.2% Fib at 0.9885. Near-term support is at 1.0023, the 100% expansion.

Forex_AUDUSD_Technical_Analysis_05.14.2013_body_Picture_5.png, AUD/USD Technical Analysis 05.14.2013

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

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