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AUDUSD Classic Technical Report 10.09.2012

MENAFN - DailyFX - 09/10/2012


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Prices are testing support at 1.0136, the 38.2%Fibonacci expansion. A break below that exposes the parity level and the 50% level at 0.9986. Initial resistance is at 1.0322, the 23.6% Fib, with a break back above that exposing major trend line resistance at 1.0538.

AUDUSD_Classic_Technical_Report_10.09.2012_body_Picture_5.png, AUDUSD Classic Technical Report 10.09.2012

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, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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