AUD/USD Technical Analysis 03.20.2013
AUD/USD Technical Analysis– Prices are consolidating below resistance at 1.0412, the 61.8% Fibonacci retracement, and the 1.0355-65 area marked by the 50% level and a horizontal pivot level. A break lower 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
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