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AUDUSD Classic Technical Report 10.22.2012

AUDUSD Classic Technical Report 10.22.2012

2012-10-22 10:19:00
Ilya Spivak, Head Strategist, APAC
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Prices pulled back from resistance at 1.0397, the 23.6% Fibonacci expansion level, to retest the 14.6% barrier at 1.0303. A drop below this boundary exposes range support at 1.0173. Alternatively, a reversal through resistance targets a major falling trend line at 1.0525, a hurdle reinforced by the 38.2% Fib at 1.0551.

AUDUSD_Classic_Technical_Report_10.22.2012_body_Picture_5.png, AUDUSD Classic Technical Report 10.22.2012

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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