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 61.8% Fibonacci expansion at 1.0161. Sellers are now challenging the 123.6% level at 0.9938, with a break below that aiming for the 138.2% Fib at 0.9885. Near-term support is at 1.0023, the 100% expansion.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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