FX.co ★ AUD/USD Bullish outlook for April 06, 2012 (Daily Strategy)

The AUD / USD pair has consolidated above 1.0223 Fractal tghough the reversal of a trend is still not obvious. The aussie is still under the negative pressure due to the results of the meeting of the Reserve Bank of Australia that Caused Many worries of investors.

On a technical level we recommend Buy-deals over the daily fractal with objectives to the downtrend channel. In case of another breakdown we recommend to buy the final target seen at the level 1.0670

The MACD indicator is in oversold area and it is possible to bounce the upward trend.