AUD/USD Technical Analysis– Prices are stalling above support in the 0.9580-84 region, the intersection of the June 1 low and the 38.2% Fibonacci expansion, with positive RSI divergence hinting a rebound may be ahead. Near-term resistance is in the 0.9682-95 area, marked by the June 1 daily close and the 23.6% level. A break above that initially eyes the 38.2% Fib retracement at 0.9855.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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