AUD/USD – sell below fractal 1.0598 – for April 12, 2013 (daily strategy)
April 12, 2013 4:15 pm
The Australian dollar is very strong. It reached a resistance that stopped the rise of the pair. Above 1.0581 the daily fractal 1.0598 is located. Just below this level the pair has begun its correction. However, the fractal that remains is support 1.0523. If the pair closes the 4H below this level you can sell the pair with targets to 200 day moving average around 1.0380. On the other hand, probably before falling it tries again to break the resistance level of 1.0598. In the medium term we believe the Aussie can reach low levels at 1.03, because if you notice in the chart, the Momentum Indicator is in bearish zone. If the moving average of the MACD (blue) is broken, it increases the chances of a bearish movement for the next few days.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar is very strong. It reached a resistance that stopped the rise of the pair. Above 1.0581 the daily fractal 1.0598 is located. Just below this level the pair has begun its correction. However, the fractal that remains is support 1.0523. If the pair closes the 4H below this level you can sell the pair with targets to 200 day moving average around 1.0380. On the other hand, probably before falling it tries again to break the resistance level of 1.0598. In the medium term we believe the Aussie can reach low levels at 1.03, because if you notice in the chart, the Momentum Indicator is in bearish zone. If the moving average of the MACD (blue) is broken, it increases the chances of a bearish movement for the next few days.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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