AUD/USD Technical Analysis– Prices broke support in the 0.9682-95 area, marked by the June 1 daily close and the 23.6% Fibonacci expansion. Sellers have now challenged the 0.9580-84 region, the intersection of the June 1 low and the 38.2% level, with a further push beneath that eyeing the 50% Fib at 0.9505. Alternatively, a turn back above 0.9695 targets the May 21 swing highat 0.9841.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya’s e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed