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AUD/USD Technical Analysis 03.22.2013

AUD/USD Technical Analysis 03.22.2013

Ilya Spivak, Head Strategist, APAC

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.

Forex_AUDUSD_Technical_Analysis_03.22.2013_body_Picture_5.png, AUD/USD Technical Analysis 03.22.2013

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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