AUD/USD Technical Analysis– Prices are rebounding as expected to test resistance at the top of a falling channel set from April, now at 0.9208. A break above this boundary initially exposes the 23.6% Fibonacci retracement at the 0.9400 figure. Near-term support is at 0.9035, the July 3 swing low.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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