U.S. Markets open in 2 hrs 39 mins

AUD/USD Technical Analysis 06.03.2013

Ilya Spivak

AUD/USD Technical Analysis– Prices are stalling above support in the 0.9543-80 region, the intersection of the June 1 2012 low and the 14.6% Fibonacci expansion, with positive RSI divergence hinting a rebound may be ahead. Near-term resistance is at 0.9697, the May 30 high. Alternatively, a move through support targets the 23.6% expansion at 0.9448.

Forex_AUDUSD_Technical_Analysis_06.03.2013_body_Picture_5.png, AUD/USD Technical Analysis 06.03.2013

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.