AUD/USD Technical Analysis– Prices are pulling back from resistance at 0.9776, the 23.6% Fibonacci retracement. Near-term support is at 0.9580, marked by the July 2012 low, with a break below that initially eyeing the May 29 swing bottom at 0.9527. Alternatively, a reversal above resistance eyes the 38.2% level at 0.9930.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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