FX.co ★ AUD/USD - sell below fractal 1.0390 - for March 14, 2013 (daily strategy)

Amid a good jobs report in Australia in February, the Australian dollar reacted better than expected. It gave a bullish momentum. We believe that it will have its roof at the 1.0389 fractal, because it is a massive area of resistance. In the past weeks it has been very strong. Therefore, you can sell below this level, with objectives to the nearest 1.0230 fractal. On the other hand, the technical indicator is overbought, which increases the chances of a bearish sequence for the pair in the next few hours.

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