AUDUSD Classic Technical Report 07.26.2012
Prices rebounded from support at 1.0225, marked by the April 11 low and the bottom of a rising channel carved out since late June, to retest resistance at 1.0313. A break higher exposes 1.0473. Alternatively, a push lower through 1.0225 initially targets swing lows at 1.0099 and 0.9968.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. 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 email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.