AUD/USD Technical Analysis 02.12.2013
AUD/USD Technical Analysis- Prices turned lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern below multi-month range resistance in the 1.0578-1.0624 area. Sellers are now testing below support at 1.0254, the 76.4% Fibonacci retracement. A break below that exposes the range bottom at 1.0173. Near-term resistance is at 1.0320, the 61.8% level.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE