AUD/USD Technical Analysis– Prices are testing support at 0.9185, the 38.2% Fibonacci expansion, with an Inverted Hammer candlestick hinting a bounce may be ahead. Initial resistance is at 0.9369, the 23.6% level, with a break above that targeting a falling trend line at 0.9625. Alternatively, a move below support eyes the 50% expansion at 0.9037.

dailyclassics_aud-usd_body_Picture_9.png, AUD/USD Technical Analysis: Support Found Near 0.92?

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed