|GBP/USD Rebound for April 4, 2012 (Daily Strategy)|
|AUD/USD Elliott Wave Count for April 4, 2012|
AUD/USD has reached the key point of the monthly support, we had talked about yesterday - 1.0246. The Aussie is still under the impact of a strong negative factor - the outcome of the meeting of the RBA.
From the technical viewpoint, we see that the pair has stalled at 1.0246, which is represented with the first weekly support, this level is the upward monthly trendline of the pair, which would change if the bullish outlook will break down the pair and this can start new massive sales.
Therefore, Momentum indicator is on oversold and is showing signs of a potential upside rebound, so we recommend buying above 1.0246 with a short-term goal at 1.0400, on the other hand, if there is a definite break through below this level, it is recommended to sell up to 1.0149.
Gerardo Porras Palomino is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.
Analytical expert: Gerardo Porras Palomino
|InstaForex Group © 2007-2013|
|Recommend: Forex Analytics|
EUR/USD. Forecast for May 24, 2013
2013-05-24 07:54:07 UTC+00 7 hours, 34 min. ago
|Views today 692|
GBP/USD. Forecast for May 24, 2013
2013-05-24 08:33:05 UTC+00 6 hours, 55 min. ago
|Views today 668|
EUR/USD intraday technical levels for May 24, 2013
2013-05-24 06:00:40 UTC+00 9 hours, 27 min. ago
|Views today 719|
USD/JPY intraday technical levels for May 24, 2013
2013-05-24 06:02:00 UTC+00 9 hours, 26 min. ago
|Views today 616|
Elliott Wave analysis of EUR/NZD for May 24, 2013
2013-05-24 06:03:27 UTC+00 9 hours, 24 min. ago
|Views today 663|