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AUD/USD Technical Analysis: Channel Top Resistance in Focus

By , Currency Strategist
15 July 2013 06:25 GMT

AUD/USD Technical Analysis– Prices are testing support at 0.9035, the July 3 low, with a break beneath that eyeing the 61.8% Fibonacci expansion at 0.8889. Falling channel resistance is at 0.9160, with a reversal above that targeting the 23.6% Fib retracement at 0.9400. Positive RSI divergence argues in favor of an upside scenario.

dailyclassics_aud-usd_body_Picture_9.png, AUD/USD Technical Analysis: Channel Top Resistance in Focus

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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15 July 2013 06:25 GMT