U.S. Markets closed

AUD/USD Technical Analysis 05.29.2013

Ilya Spivak

AUD/USD Technical Analysis– Prices broke support in the 0.9682-95 area, marked by the June 1 daily close and the 23.6% Fibonacci expansion. Sellers have now challenged the 0.9580-84 region, the intersection of the June 1 low and the 38.2% level, with a further push beneath that eyeing the 50% Fib at 0.9505. Alternatively, a turn back above 0.9695 targets the May 21 swing highat 0.9841.


Forex_AUDUSD_Technical_Analysis_05.29.2013_body_Picture_5.png, AUD/USD Technical Analysis 05.29.2013

Daily Chart - Created Using FXCM Marketscope 2.0




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


To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak


To be added to Ilya's e-mail distribution list, please CLICK HERE


New to FX? Watch this Video. For live market updates, visit the Real Time News Feed



DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.