AUD/USD Technical Analysis– Prices broke resistance at 1.0298, the 38.2% Fibonacci retracement, exposing the 1.0355-65 area marked by the 50% level and a horizontal pivot. A break above this boundary aims for the 61.8% retracement at 1.0412. The 1.0298 level has been recast as near-term support, with a turn back below that eyeing trend line resistance-turned-support at 1.0251. We continue to hold long.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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