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Forex: AUD/USD Technical Analysis – Aussie Rebound Finally Here?

By , Currency Strategist
02 September 2013 10:32 GMT

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Talking Points

  • Prices are recoiling from support in the 0.8823-0.8901 area (August 2close, 23.6% Fib expansion)
  • Break back above 0.9035 targets the 0.9256-95 area (horizontal pivot, 23.6% Fib retracement)
  • We continue to hold long for now, aiming for a reversal against the August low toward 0.9640

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dailyclassics_aud-usd_body_Picture_9.png, Forex: AUD/USD Technical Analysis – Aussie Rebound Finally Here?

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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02 September 2013 10:32 GMT