Forex Analysis: AUD/USD Classic Technical Report 12.21.2012
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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.