AUD/USD Technical Analysis– Prices are pulling back from resistance at 1.0412, the 61.8% Fibonacci retracement, to retest the 1.0355-65 area marked by the 50% mark and a horizontal pivot level. A break back beneath that exposes the 38.2% retracement at 1.0298. Alternatively, a push above resistance targets the 76.4% Fib at 1.0483.We continue to hold long.
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
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
