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AUDUSD Classic Technical Report 09.03.2012

AUDUSD Classic Technical Report 09.03.2012

2012-09-03 10:24:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices are testing support in the 1.0285-1.0311 area marked by the 23.6% Fibonacci expansion and the June 5 close. A downward breakout targets 1.0192 and the 38.2% level at 1.0124. Pending confirmation of the breakdown on a daily closing basis, resistance is in the 1.0414-43 area, but would be revised to the 1.0285-1.0311 region thereafter.

AUDUSD_Classic_Technical_Report_09.03.2012_body_Picture_5.png, AUDUSD Classic Technical Report 09.03.2012

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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