FX.co ★ AUD/USD Key Level of 1.0307 for February 22, 2013 (Daily Strategy)

The Australian dollar is above the key level of 1.03. This pair was strengthened again after finding support at 1.0228. The aussie's bullish movement appeared due to declarations of Mr. Stevens, the head of the Reserve Bank of Australia, which sees the faraway possibility that the organism would intervene the exchange rate down when assessing the aussie is not overvalued.

Therefore, this pair is continuing its upward trend. There is a very strong resistance level 1.0365, a close above this level will increase the possibility for an upward movement to the fractal 1.0466, so we recommend buying only if the pair is above the 200-day moving average and above 1.03.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com