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AUD/USD Classic Technical Report 07.06.2012

AUD/USD Classic Technical Report 07.06.2012

Ilya Spivak, Head Strategist, APAC

Prices are consolidating below resistance at 1.0289, the 50%Fibonacci expansion. Near-term support lines up at 1.0213, the 38.2% level, with a break below that exposing the 23.6% Fib at 1.0120. Alternatively, a break higher exposes the 61.8% Fib at 1.0366.

AUDUSD_Classic_Technical_Report_07.06.2012_body_Picture_5.png, AUD/USD Classic Technical Report 07.06.2012

4hr 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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