Forex: AUD/USD Technical Analysis – Resistance Held Below 0.89
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- Prices are recoiling from resistance in the 0.8847-64 area (Aug’13 low, 23.6% Fib exp.)
- Breaking below 0.8727-56 (Jan 20 low, 38.2% Fib exp.) targets 0.8616 (50% Fib exp.)
- Above 0.8864 exposes 0.8992 (23.6% Fib retratecement)
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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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