AUD/USD Classic Technical Report 07.09.2012
Prices took out support at 1.0213, the 38.2% Fibonacci expansion. Sellers now aim to challenge the 23.6% Fib at 1.0120, a barrier reinforced by a rising trend line set from early June. The 1.0213 level has been recast as near-term resistance.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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