FX.co ★ AUD/USD Bullish Outlook for April 19, 2012 (Daily Strategy)

Judging by the technical picture presented by the Australian dollar, we can find indication that the markets should be finishing their current price drops.
Since the price of this pair is the last one trading near support level, there is a good buying opportunity at current levels, and especially if we notice the formation of a reversal pattern, this can give strength to the Aussie right to the next nearest resistance. However, it is possible to make entry into a conditional purchase position above the 1.0400 level. A close above the moving average of 200 periods increase the probability of a continuation of the upward movement to the level of resistance - 1.0673 and maybe even more, until the daily fractal 1.0803.