AUD/USD Technical Analysis– Prices are testing above resistance at 10493, the 38.2% Fibonacci expansion. A break above that targets the 50% level at 1.0539. Near-term support is at 1.0438, the 23.6% Fib, with a drop back beneath that eyeing the April 8 swing low at 1.0348.
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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