AUD/USD Technical Analysis 05.08.2013
AUD/USD Technical Analysis– Prices are testing support at 1.0181, the bottom of a range that has contained the pair since late July 2012. A break below that targets the bottom of a Falling Wedge chart pattern at 1.0137, followed by the March 4 low at 1.0114. Formerly broken channel bottom resistance is at 1.0231. A push back above that eyes the Wedge top at 1.0309.
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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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