News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
AUDUSD Classic Technical Report 07.24.2012

AUDUSD Classic Technical Report 07.24.2012

Ilya Spivak, Head Strategist, APAC

Prices broke through 1.0313 after showing a bearish Dark Cloud Cover candlestick pattern below resistance at 1.0473, a barrier reinforced by the top of a rising channel carved out since late June. The pair found interim support at 1.0225 and is staging narrow correction higher to retest 1.0313 to the upside. A break back above this level exposes 1.0473 anew. Alternatively, a push downward aims to challenge the channel bottom at 1.0174.

AUDUSD_Classic_Technical_Report_07.24.2012_body_Picture_5.png, AUDUSD Classic Technical Report 07.24.2012

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

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES