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AUD/USD Technical Analysis 06.06.2013

AUD/USD Technical Analysis 06.06.2013

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Analysis– Prices broke support in the 0.9542-80 area, marked by the June 2012 low and the 23.6% Fibonacci expansion, to expose the 38.2% level at 0.9388. A further drop beneath that eyes the 50% Fib at 0.9264. Alternatively, a move back above 0.9580 eyes the June 3 high at 0.9791.

Forex_AUDUSD_Technical_Analysis_06.06.2013_body_Picture_5.png, AUD/USD Technical Analysis 06.06.2013

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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