AUD/USD Technical Analysis– Prices are testing support at 0.9185, the 38.2% Fibonacci expansion, with an Inverted Hammer candlestick hinting a bounce may be ahead. Initial resistance is at 0.9369, the 23.6% level, with a break above that targeting a falling trend line at 0.9625. Alternatively, a move below support eyes the 50% expansion at 0.9037.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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