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AUD/USD Technical Analysis: Resistance Met Above 0.93 Figure

AUD/USD Technical Analysis: Resistance Met Above 0.93 Figure

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Analysis– Prices drifted higher as expected to challenge support-turned-resistance at 0.9325, the June 11 swing low. A break higher above this barrier exposes a falling range top at 0.9414 and the 23.6% Fibonacci retracement at 0.9486. Initial support is at 0.9147, the June 24 low.

dailyclassics_aud-usd_body_Picture_9.png, AUD/USD Technical Analysis: Resistance Met Above 0.93 Figure

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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