AUD/USD Technical Analysis 04.12.2013
AUD/USD Technical Analysis– Prices put in a Doji candlestick below resistance in the 1.0584-97 area, marked by the 61.8% Fibonacci expansion and a multi-month range top, pointing to indecision and warning of a possible reversal lower. A drop beneath the 50% Fib at 1.0539 exposes the 38.2% expansion at 1.0493. Alternatively, a move above resistance targets the 76.4% level at 1.0639
Daily Chart - Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE