FX.co ★ AUD/USD technical analysis for February 6, 2013

DESCRIPTION:

After the RBA had released the statement to leave "unchanged" their rates at 3%, this currency had a pressure from the market. The level of 1.0400, as the psychological level, has already been breached. Today the AUD/USD pair has already opened bellow the 1.0375 level, it means this currency has to go down until the 1.0175 in the next three days. If until next Tuesday (Feb 12, 2013) or this currency backs to the upside and reaches the 1.0485, then the downside movement for the AUD/USD pair will be hold.

Recommendation:

SELL stop pending order at 1.0340.

Take profit. 1 is at 1.0321.

Take profit. 2 is at 1.0289 (optional).

Stop loss is at 1.0372.

Or

BUY stop pending order at 1.0419.

Take profit. 1 is at 1.0430.

Take profit. 2 is at 1.0464 (optional).

Stop loss is at 1.0392.

Best regards,

Arief Makmur

Official Analyst of InstaForex Companies Group

InstaForex Companies Group

https://instaforex.com

Email: Arief.jakarta@indo.instaforex.com

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