FX.co ★ AUD/USD technical analysis for February 13, 2013

DESCRIPTION:

The situation with the AUD/USD is a little bit similar to that with the EUR/USD. This currency pair opened above the there Exponential Moving Average periods (14), (34), and (100), but the Exponential Moving Average period (100) is still between Exponential Moving Average periods (14) and (34); and all this indicates that this currency pair is making a reversal from downtrend to uptrend, but the reversal is not mature yet.

Recommendation:

Buy stop (pending order) at 1.0351.

Take profit 1 at 1.0368.

Take profit 2 at 1.0397 (optional).

Stop loss at 1.0322.

Alternative:

Sell stop (pending order) at 1.0296.

Take proift 1 at 1.0287.

Take profit 2 at 1.0273 (optional).

Stop loss at 1.0310.

Best regards,

Arief Makmur

Official Analyst of InstaForex Companies Group

InstaForex Companies Group

https://instaforex.com

Email: Arief.jakarta@indo.instaforex.com

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.