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
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