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AUD/USD Technical Analysis 02.26.2013

AUD/USD Technical Analysis 02.26.2013

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Analysis- Prices are testing support at 1.0233, the 38.2% Fibonacci expansion, once again. A break lower targets the 50% level at 1.0189 and the major range bottom at 1.0173. Near-term resistance is at 1.0286, the 23.6% expansion, with a move back above that eyeing the February 15 high at 1.0374.

Forex_AUDUSD_Technical_Analysis_02.26.2013_body_Picture_5.png, AUD/USD Technical Analysis 02.26.2013

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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