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Forex pairs in this Article » AUD/USD, AUD/USD
AUD/USD Technical Analysis- Prices put in a bullish Piercing Line candlestick pattern, hinting a move higher is ahead. Positive RSI divergence reinforces the case for an upside scenario. A break above initial resistance at 1.0314, the 23.6% Fibonacci retracement targets the 38.2% level at 1.0368. Near-term support is at 1.0226.

Forex_AUDUSD_Technical_Analysis_02.13.2013_body_Picture_5.png, AUD/USD Technical Analysis 02.13.2013 Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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