AUD/USD Technical Analysis– Prices broke support in the 0.9542-80 area, marked by the June 2012 low and the 23.6% Fibonacci expansion, to expose the 38.2% level at 0.9388. A further drop beneath that eyes the 50% Fib at 0.9264. Alternatively, a move back above 0.9580 eyes the June 3 high at 0.9791.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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