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AUD/USD Technical Analysis 03.15.2013

AUD/USD Technical Analysis 03.15.2013

2013-03-15 09:53:00
Ilya Spivak, Head Strategist, APAC
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AUD/USD Technical Analysis– Prices broke resistance in the 1.0355-65, marked by the 50% Fibonacci retracement and a horizontal pivot level. Buyers now aim to challenge the 61.8% Fib at 1.0412. Alternatively, a drop back beneath 1.0355 (now recast as support) exposes the 38.2% retracement at 1.0298.We continue to hold long.

Forex_AUDUSD_Technical_Analysis_03.19.2013_body_Picture_5.png, AUD/USD Technical Analysis 03.15.2013

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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