AUD/USD Technical Analysis: Aussie Probes Four-Year Low
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- AUD/USD Technical Strategy: Short at 0.9186
- Support:0.8652, 0.8544, 0.8457
- Resistance:0.8718, 0.8826, 0.8887
The Australian Dollar renewed the downward push against its US namesake, sinking to tag the lowest level in over four years. A daily close below the 0.8652-59 area marked by the January 24 low and the 23.6% Fibonacci expansion exposes the 38.2% level at 0.8544. Alternatively, a turn above the 14.6% Fib at 0.8718 opens the door for a test of the October 2 high at 0.8826.
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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.