AUD/USD Technical Analysis: Correction Higher Ahead?
AUD/USD Technical Analysis– Prices broke support at 0.9134, the 14.6% Fibonacci retracement, exposing the 23.6% level at 0.9005. A further push beneath that targets channel support at 0.8859. Positive RSI divergence continues to warn of ebbing downward momentum, however. A move back above 0.9134 sees the next upside barrier at 0.9250, the channel top.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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