AUD/USD Technical Analysis: Bears Retest Channel Top
AUD/USD Technical Analysis – Prices broke support at 0.8943, the 23.6% Fibonacci expansion, exposing falling channel resistance-turned-support at 0.8849. A further push below that eyes the 38.2% level at 0.8712. Alternatively, a reversal back above 0.8943 aims for the July 3 low at 0.9035.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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