AUD/USD Technical Analysis: Down Trend Boundary at Risk
AUD/USD Technical Analysis– Prices are rebounding as expected to test resistance at the top of a falling channel set from April, now at 0.9228. A break above this boundary initially exposes the 23.6% Fibonacci retracement at the 0.9400 figure. Near-term support is at 0.9035, the July 3 swing low.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE