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Forex Analysis: AUD/USD Classic Technical Report 11.14.2012

Forex Analysis: AUD/USD Classic Technical Report 11.14.2012

2012-11-14 11:00:00
Ilya Spivak, Head Strategist, APAC
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Prices are edging toward major resistance at the top of a Triangle chart pattern set from late July 2011, now at 1.0488. A break higher initially exposes 1.0578 (though the setup would imply a long-term upside target at 1.2181). Rising trend line resistance is at 1.0392, with a drop below that targeting 1.0173.

Forex_Analysis_AUDUSD_Classic_Technical_Report_11.14.2012_body_Picture_5.png, Forex Analysis: AUD/USD Classic Technical Report 11.14.2012

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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