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AUD/USD Technical Analysis 03.01.2013

AUD/USD Technical Analysis 03.01.2013

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Analysis- Prices are testing support at 1.0189, the 50% Fibonacci expansion. A break lower targets the 1.0145-63 area, marked by a multi-month range bottom and the 61.8% level. Near-term resistance is at 1.0232, the 38.2% Fib. A turn above that exposes the 23.6% expansion at 1.0287.

Forex_AUDUSD_Technical_Analysis_03.01.2013_body_Picture_5.png, AUD/USD Technical Analysis 03.01.2013

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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