AUD/USD Technical Analysis: 2014 Low in the Crosshairs
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- AUD/USD Technical Strategy: Short at 0.9186
- Support:0.8659, 0.8406, 0.8246
- Resistance:0.8826, 0.8955, 0.9112
The Australian Dollar fell for a third consecutive day, with prices sliding to the lowest level in eight months against its US counterpart. A daily close below the 0.8659-65 area marked by the January 24 low and the 76.4% Fibonacci expansion exposes the 100% level at 0.8406. Alternatively, a reversal back above the 61.8% Fib at 0.8826 opens the door for a test of the 50% expansion at 0.8955.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.