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Forex Analysis: AUD/USD Classic Technical Report 12.12.2012

Ilya Spivak

Prices are testing above resistance at the top (now at 1.0530) of a Rising Wedge pattern, with a break higher initially targeting the August 9 close at 1.0578. Near-term trend line resistance-turned support is at 1.0460, with a drop below that exposing the wedge bottom at 1.0435.

Forex_Analysis_AUDUSD_Classic_Technical_Report_12.12.2012_body_Picture_1.png, Forex Analysis: AUD/USD Classic Technical Report 12.12.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

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