AUD/USD Technical Analysis– Prices broke support at the bottom of a multi-month range in the 1.0163-81 area, a barrier reinforced by the 38.2% Fibonacci expansion at 1.0137. Sellers now aim to challenge the parity figure, followed by the 50% level at 0.9986, with a break below that aiming for the 61.8% Fib at 0.9836. Alternatively, a move back above 1.0181 eyes a falling trend line at 1.0282.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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