FX.co ★ AUD/USD Bearish Outlook, March 28, 2011 (Daily Strategy)

This analysis we posted the 24th of March, so our bullish outlook is fulfilled, however we expect the pair to change their trend and correct to the levels of 1.0000.

The analysis mentioned as follows:

"AUD/USD

A look on graph (daily) of the Australian dollar – United States dollar pair, is in a range of 300 - points since December of last year, takes five days to a bullish force. Believe that the pair will continue their upward trend at least until his second line of monthly resistance around the 1.0310 level. A ascent to that level would create a sales opportunity, who would return to the lowest level of support around

the level of 0.9860 United States dollars for one Australian dollar."