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AUD/USD Technical Analysis: Rebound Ahead from 0.90?

By , Currency Strategist
08 July 2013 10:52 GMT

AUD/USD Technical Analysis– Prices broke support at 0.9134, the 14.6% Fibonacci retracement, exposing the 23.6% level at 0.9005. A further push beneath that targets channel support at 0.8881. Positive RSI divergence continues to warn of ebbing downward momentum, however. A move back above 0.9134 sees the next upside barrier at 0.9273, the channel top.

dailyclassics_aud-usd_body_Picture_11.png, AUD/USD Technical Analysis: Rebound Ahead from 0.90?

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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08 July 2013 10:52 GMT