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AUD/USD Technical Analysis: Bears Eye 0.90 Threshold

AUD/USD Technical Analysis: Bears Eye 0.90 Threshold

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Analysis– Prices are testing below support at 0.9134, the 14.6% Fibonacci retracement, with a break downward targeting the 23.6% level at 0.9005. Positive RSI divergence continues to warn of ebbing downward momentum, hinting a rebound may be brewing. Near-term resistance is 0.9325, the June 11 low.

dailyclassics_aud-usd_body_Picture_9.png, AUD/USD Technical Analysis: Bears Eye 0.90 Threshold

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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