AUDUSD Classic Technical Analysis Report 10.23.2012
Prices pulled back from resistance at 1.0397, the 23.6% Fibonacci expansion level, and are now testing below the 14.6% barrier at 1.0303. A confirmed break on a daily close below this juncture exposes three-month range support at 1.0173. Alternatively, a reversal through resistance targets a major falling trend line at 1.0523, a hurdle reinforced by the 38.2% Fib at 1.0551.
Daily Chart - Created Using FXCM Marketscope 2.0
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