FX.co ★ AUD/USD GAP at 1.0377 - For January 3, 2013 (Daily Strategy)

The Australian dollar remains bullish after finding a strong support at 1.0334 last week, just above the moving average 200 periods (Blue). We remain bullish for this pair above 1.0250. Given that the opening on Wednesday left a gap at 1.0377, it is likely that in the coming days the pair will retreat to that level, before it continues its upward move. So if you buy this pair you must be very careful.

Technical indicators are showing an imminent decline of the pair in the coming days.

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