AUD/USD Technical Analysis– Prices pulled back from resistance at 1.0483, the 76.4% Fibonacci retracement, to challenge the 61.8% level at 1.0412. A break below that targets the 1.0355-65 area. Alternatively a reversal above resistance eyes the multi-month range top at 1.0597. We continue to hold long for now.
Daily Chart – Created Using FXCM Marketscope 2.0
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— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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