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AUD/USD Technical Analysis: Support Found Near 0.92?

AUD/USD Technical Analysis: Support Found Near 0.92?

2013-06-24 10:37:00
Ilya Spivak, Head Strategist, APAC
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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 Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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