AUD/USD Technical Analysis– Prices are testing support at 1.0246, the 38.2% Fibonacci expansion. This barrier is reinforced by the bottom of a falling channel set from mid-April. A break below that initially exposes the 50% level at 1.0204. Channel resistance is at 1.0357, with a turn above that aiming for the April 30 high at 1.0384.
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
AUD/USD Technical Analysis 05.07.2013
No comments:
Post a Comment