AUDUSD Classic Technical Report 10.17.2012
Prices broke resistance at the top of a minor falling channel set from the September 14 high, with the bulls now probing above the next upside barrier at the 23.6%Fibonacci expansion (1.0322). A confirmed break above this boundary opens the door for a test of major trend line resistance at 1.0530. Support lines up at 1.0136, the 38.2% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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