Forex: AUD/USD Technical Analysis – Support Now Below 0.88
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- Prices fell as expected after showing a Bearish Engulfing candle pattern
- Below support at 0.8727 (38.2% Fib exp.) exposes 0.8616 (50% Fib exp.)
- Near-term resistance is in the 0.8847-64 area (Aug’13 low, 23.6% Fib)
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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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