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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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