AUD/USD Technical Analysis: Aussie Hits 2-Year Low
AUD/USD Technical Analysis – Prices broke support at 0.9035, the July 3 low, to challenge the 23.6% Fibonacci expansion at 0.8943. A break below this aims for falling channel resistance-turned-support at 0.8872 and the 38.2% level at 0.8712. Alternatively, a reversal back above 0.9035 aims for upside barriers at 0.9147 and 0.9325.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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