AUD/USD Classic Technical Report 07.04.2012
Prices are testing above resistance at 1.0289, the 50%Fibonacci expansion, with a break higher exposing the 61.8% level at 1.0366. Negative RSI divergence warns of ebbing upside momentum however and warns that a downswing may be ahead. Near-term support lines up at 1.0213, the 38.2% Fib.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org