|EUR/USD Weekly Analysis for July 03, 2012 (Weekly Strategy)|
|AUD/USD- Uncertainty - July 3, 2012 (Daily Strategy)|
The AUD/USD pair strongly depends on operators’ appetite. However, the fact that the Bank of England and the ECB have meetings this week, can lower operators activity.
Currently, the market is set around the 1.0250 level, an area that was both support and resistance over the past few months.
Last Friday at the end of the session, the market hits this level and could not break higher. On the other hand, it is interesting that the pair did not fall again from the level after this explosive upward movement.
According to these data, we have two options: to buy above the last maximum, around 1.0280 or below 1.0220 sell, targeted towards the bullish trend line 1.0060
It is possible that this week the pair oscillate between these levels.
On the other hand, the Momentum indicator is displaying bearish signal.
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Analytical expert: Gerardo Porras Palomino
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