FX.co ★ AUD/USD Bullish Outlook - For November 01, 2012 (Daily Strategy)

The Australian dollar is above the 200 day moving average periods. It is a very strong uptrend at the moment; probably a closure above 1.04 will increase a bullish move higher 1.06. The nearest resistance is at 1.0435; the daily fractal is probably a correction at this level. If the pair returns to the level of 1.0345 it is recommended to buy with targets, until the weekly resistance levels are 1.0520 and 1.0640.

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