AUD/USD Technical Analysis 05.03.2013
AUD/USD Technical Analysis– Prices are testing support at 1.0246, the 38.2% Fibonacci expansion. A break downward confirmed on a daily closing basis exposes the 50% level at 1.0204. Near-term resistance is at 1.0299, the 23.6% Fib, with a turn above that aiming for the April 30 high at 1.0384.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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