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Forex Analysis: AUD/USD Classic Technical Report 12.21.2012

Forex Analysis: AUD/USD Classic Technical Report 12.21.2012

Ilya Spivak, Head Strategist, APAC

Prices declined as expected after putting in a Harami candlestick pattern below multi-month range resistance at 1.0578. Sellers are now testing through near-term support at the 23.6% Fibonacci retracement (1.0482) to challenge the 38.2% level (1.0418). A break of that aims for the 50% Fib at 1.0366.

Forex_Analysis_AUDUSD_Classic_Technical_Report_12.21.2012_body_Picture_1.png, Forex Analysis: AUD/USD Classic Technical Report 12.21.2012

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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