AUD/USD Technical Analysis– Prices are testing resistance in the 1.0584-97 area, marked by the 61.8% Fibonacci expansion and a multi-month range top. A break above that targets the 76.4% level at 1.0639. Near-term support is at 1.0539, the 50% Fib, with a drop back beneath that eyeing the 38.2% expansion at 1.0493.

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

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