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Forex: AUD/USD capped below key Fibo resistance

By FXstreet.com,  June 14, 2012, 07:30:00 PM EDT

FXstreet.com (San Francisco) - The AUD/USD pair is consolidating within a 20-pip range above parity this Friday in Asia, after gaining 0.9% in overnight trading on rising stocks.

The rally stalled at the 50% retracement of the 0.9580/1.0468 downswing, just below the 1.0030 mark. The 61.8% retracement of the mentioned rally is located at 1.0125, "next probable target if current Fibo resistance gives up," says Valeria Bednarik, Chief Analyst at FXstreet.com.

At the time of writing, the cross is quoted at 1.0015, with immediate support levels noted at 1.0000, 0.9970 and 0.9925, while resistance levels lie at 1.0080, and at the mentioned 1.0125.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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