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AUD/USD Technical Analysis 02.25.2013

AUD/USD Technical Analysis 02.25.2013

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Analysis- Prices rebounded from support at 1.0233, the 38.2% Fibonacci expansion, to break above the 23.6% level at 1.0287. The bulls now target the February 15 high at 1.0374, with a move above that aiming for trend line support-turned-resistance at 1.0430. Alternatively, a move back below 1.0287 aims to challenge 1.0233 anew.

Forex_AUDUSD_Technical_Analysis_02.25.2013_body_Picture_5.png, AUD/USD Technical Analysis 02.25.2013

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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