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 08.27.2012

AUDUSD Classic Technical Report 08.27.2012

Ilya Spivak, Head Strategist, APAC

Prices price are testing the 23.6% Fibonacci retracement at 1.0368 after taking out support at the bottom of a rising channel set from early June. A break below this boundary exposes the 38.2% Fib at 1.0218. The channel bottom, now at 1.0452, has been recast as near-term resistance. A push back above that targets the 1.05 figure.

AUDUSD_Classic_Technical_Report_08.27.2012_body_Picture_5.png, AUDUSD Classic Technical Report 08.27.2012

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