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Forex Analysis: AUDUSD Classic Technical Report 11.07.2012

Ilya Spivak

Prices broke resistance at 1.0410, with buyers now targeting long-term falling trend line resistance at 1.0505. A push above that initially exposes 1.0578. The 1.0410 level has been recast as near-term support, with a drop back below that exposing a rising trend line support at 1.0348.

Forex_Analysis_AUDUSD_Classic_Technical_Report_11.07.2012_body_Picture_5.png, Forex Analysis: AUDUSD Classic Technical Report 11.07.2012

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

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