AUD/USD Technical Analysis: Key Range Bottom Tested
AUD/USD Technical Analysis – Prices continue to trade sideways having taken out resistance at the top of a falling channel set from April. The first layer of significant resistance is in the 0.9325-71 area, marked by the June 11 low and the 23.6% Fibonacci retracement.Near-term support is at 0.9035, the July 3 low, followed by the 23.6% Fib expansion at 0.8943.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.