AUD/USD – Target in sight 0.9270 – daily strategy for June 18, 2013
June 18, 2013 3:45 pm
The Australian dollar dropped again today and heads to 2010 lows against the dollar after the minutes of the Reserve Bank of Australia were released. It is said that there may be further cuts in interest rates in the coming months, which would deepen the low of the Aussie. Observing the graph we see that the Aussie is trading below the weekly pivot of 0.9519. The next downside target we find it in, 0.9375. Although we must remember that this pair has left a gap from 2010 to 0.9270, so we believe this will be the target level for the next few days. If the fall is accelerating below this level, there is a strong support at 0.9181, as our ultimate goal.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar dropped again today and heads to 2010 lows against the dollar after the minutes of the Reserve Bank of Australia were released. It is said that there may be further cuts in interest rates in the coming months, which would deepen the low of the Aussie. Observing the graph we see that the Aussie is trading below the weekly pivot of 0.9519. The next downside target we find it in, 0.9375. Although we must remember that this pair has left a gap from 2010 to 0.9270, so we believe this will be the target level for the next few days. If the fall is accelerating below this level, there is a strong support at 0.9181, as our ultimate goal.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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