FX.co ★ AUD/USD Bullish Outlook for April 12, 2012 (Daily Strategy)

The Australian Dollar is growing steadily and with a firm pace, as the employment rate in Australia has risen to 5.2% as compared to the previous level of 5.3%.
On a technical level, the Aussie broke its downtrend line, so sharp and positioned above the weekly pivot point, its nearest target is the 1.0430 resistance. The pair has formed a bullish pattern, we believe that before continuing the rise there should be a pullback to the downtrend line or to the weekly pivot point of 1.0339. At this level we recommend buying with objectives of 1.0561.
The MACD and Momentum indicator show upside potential.