AUD/USD Technical Analysis– Prices continue to flirt with support in the 0.9542-80 area, marked by the June 2012 low and the 23.6% Fibonacci expansion, with a clear break downward targeting the 38.2% level at 0.9388. Alternatively, a move back above 0.9580 eyes the June 3 high at 0.9791. Positive RSI divergence warns of ebbing downward momentum.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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