FX.co ★ AUD/USD - sell below fractal 1.0388 - for March 15, 2013 (daily strategy)

Yesterday the Australian dollar stopped its bullish rally at the level of daily 1.0388 fractal, as we have mentioned that below 1.04 there would be a strong resistance. Therefore, at the moment of quotation of the pair, we recommend you selling with short-term targets to the level of 1.0230. The technical indicators are showing overbought levels; it adds strength to our bearish outlook.

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