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AUDUSD Classic Technical Report 07.25.2012

AUDUSD Classic Technical Report 07.25.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing support at 1.0225 marked by the April 11 low and the bottom of a rising channel carved out since late June. A break lower initially exposes swing lows at 1.0099 and 0.9968. Near-term resistance lines up at 1.0313, with a break above that exposing 1.0473.

AUDUSD_Classic_Technical_Report_07.25.2012_body_Picture_5.png, AUDUSD Classic Technical Report 07.25.2012

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

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

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