FX.co ★ AUD/USD - bearish outlook - for March 29, 2013 (daily strategy)

Losing positions against the dollar and after reaching the roof of the bearish channel, this pair is trading under downward pressure; the break of 1.0410 could accelerate the fall of the Aussie to 1.0373 fractal level and line of the moving average 200 days. If the pair closes below this level, the next bottom is left as support in 1.03, as the final objective. The MACD indicator is showing a bearish signal. Therefore, we recommend selling this pair, if given a pullback to the area of 1.0460, with short-term objectives to 1.03.

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