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AUD/USD Technical Analysis 05.30.2013

AUD/USD Technical Analysis 05.30.2013

Ilya Spivak, Head Strategist, APAC

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.

Forex_AUDUSD_Technical_Analysis_05.30.2013_body_Picture_5.png, AUD/USD Technical Analysis 05.30.2013

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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