AUDUSD Classic Technical Report 08.23.2012
Prices remain wedged between the 1.05 figure and the bottom of a rising channel set from early June, now at 1.0432. A break higher aims to challenge a trend-defining falling trend line set from the July 27 2011 high, now at 1.0595. Alternatively a reversal through channel support initially exposes 1.0328.
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