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AUDUSD Classic Technical Report 09.28.2012

AUDUSD Classic Technical Report 09.28.2012

Ilya Spivak, Head Strategist, APAC

Prices bounced higher after putting in a Hammer candlestick above support at 1.0322, the 23.6% Fibonacci expansion. Initial trend line resistance lines up at 1.0551, with a break above that aiming for the 1.0612-24 region marked by the August 9 and September 14 swing highs. Alternatively, a reversal through support exposes the 38.2% level at 1.0136.

AUDUSD_Classic_Technical_Report_09.28.2012_body_Picture_5.png, AUDUSD Classic Technical Report 09.28.2012

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

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