AUD/USD to Eye Former Support as Retail Sales Climb for 10-Months

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Strategy : Flat Prices are rebounding from support at 0.9844, the 50% Fibonacci retracement. Near-term resistance is at 0.9894, the 38.2% retracement, with a push above that aiming for the December 28 swing high at 0.9969. Alternatively, a reversal below support targets the 61.8% Fib at 0.9794. An actionable trade setup is absent for now and we will stand aside. Forex_Analysis_USDCAD_Probing_Back_Above_0.99_body_Picture_1.png, Forex Analysis: USDCAD Probing Back Above 0.99 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 DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from FXCM . View comments
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