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AUD/USD Finds Resistance Below 1.03 Figure

By , Currency Strategist
26 April 2013 12:15 GMT

AUD/USD Technical Strategy: Flat

Prices are challenging the 23.6% Fibonacci expansion at 1.0330. A break above that aims for the 38.2% level at 1.0399. Near-term support is at 1.0220, the April 23 low, followed by the multi-month range bottom set from late July 2012 at 1.0181. Current positioning doesn’t offer an actionable trade setup and we will stand aside for now.

Forex_Analysis_AUDUSD_Finds_Resistance_Below_1.03_Figure_body_Picture_5.png, AUD/USD Finds Resistance Below 1.03 Figure

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

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26 April 2013 12:15 GMT