AUD/USD Technical Analysis– Prices are testing support at 0.9035, the July 3 low, with a break beneath that eyeing the 61.8% Fibonacci expansion at 0.8889. Falling channel resistance is at 0.9160, with a reversal above that targeting the 23.6% Fib retracement at 0.9400. Positive RSI divergence argues in favor of an upside scenario.

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

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