FX.co ★ AUD/USD Technical Correction , April 21, 2011 (Daily Strategy)

AUD/USD

The Australian dollar continues to show outstanding performance series and certainly wins in their confrontations with the other major currencies, led by the United States dollar. In fact, the Australian dollar is the only currency between the major currencies is now in its historical peak.

There is strong resistance in the second line monthly pivot table, it might be a barrier to the Australian dollar, now showing signs of overbought, so it would be a good opportunity to enter this correction always when the price does not close above the 1.0790 level. with a goal monthly R1 around the 1.0560 level.