FX.co ★ AUD/USD - bearish outlook - for April 02, 2013 (daily strategy)

The Reserve Bank of Australia left unchanged its interest rate; the data did not generate the volatile movement of the pair, as it was expected. However, at the technical level, we note that the pair is below the bearish channel long-term level of 1.0448 fractal; it supports the pair at this time. The close below this level will increase the likelihood of a downward movement of the Aussie for the next few days, so we recommend selling in current levels of price with a stop loss above the bearish channel and above the 1.0523 fractal.

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