Forex Analysis: AUD/USD Classic Technical Report 11.20.2012
Prices edged higher as expected after putting in a Hammer candlestick above the 23.6% Fibonacci expansion at 1.0367 to retest support-turned-resistance at the underside of a Rising Wedge chart pattern completed last week (1.0425). A move above that targets falling trend line resistance at 1.0462. Alternatively, a push below support aims for 1.0181. We continue to hold short.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
Free Annual Reports
