AUD/USD Technical Analysis– Prices put in a Doji candlestick below resistance in the 1.0584-97 area, marked by the 61.8% Fibonacci expansion and a multi-month range top, pointing to indecision and warning of a possible reversal lower. A drop beneath the 50% Fib at 1.0539 exposes the 38.2% expansion at 1.0493. Alternatively, a move above resistance targets the 76.4% level at 1.0639
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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