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AUDUSD Classic Technical Report 09.05.2012

AUDUSD Classic Technical Report 09.05.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing support at 1.0218, the 38.2% Fibonacci retracement, after taking out an interim barrier at 1.0285. A confirmed break downward exposes the 50% Fib at 1.0096. The 1.0285 mark has been recast as near-term resistance, with a push back above that targeting the 23.6% retracement at 1.0368.

AUDUSD_Classic_Technical_Report_09.05.2012_body_Picture_5.png, AUDUSD Classic Technical Report 09.05.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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