AUD/USD Technical Analysis– Prices broke above resistance at 1.0412, the 61.8% Fibonacci retracement, exposing the 76.4% Fib at 1.0483. A further push above that aims for the multi-month range top in the 1.0578-1.0624 region. The 1.0412 level has been recast as support. A turn back beneath that aims for the 1.0355-65 area, marked by the 50% level and a horizontal pivot level. 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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