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AUD/USD Technical Analysis 03.11.2013

AUD/USD Technical Analysis 03.11.2013

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Analysis– Prices gapped below the 23.6% Fibonacci retracement 1.0228 and are now testing back above the barrier as resistance. A break higher targets a falling channel top at 1.0274. Near-term support is at 1.0163, with a break beneath that eyeing the March 4 low at 1.0114. We continue to hold long.

Forex_AUDUSD_Technical_Analysis_03.11.2013_body_Picture_5.png, AUD/USD Technical Analysis 03.11.2013

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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