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AUD/USD Technical Analysis 05.01.2013

AUD/USD Technical Analysis 05.01.2013

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Analysis– Prices broke above resistance at 1.0330, the 23.6% Fibonacci expansion, eyeing the 38.2% level at 1.0399. A further push above that exposes the 50% Fib at 1.0454. The 1.0330 has been recast as near-term support, with a reversal back beneath that eyeing the April 23 low at 1.0220.

Forex_AUDUSD_Technical_Analysis_05.01.2013_body_Picture_5.png, AUD/USD Technical Analysis 05.01.2013

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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