FX.co ★ AUD/USD - buy rebound - for April 18, 2013 (daily strategy)

The Australian dollar continues its downward trajectory, after the great reversal on Monday that ended in a short-term uptrend at 1.0593 level fractal. This morning in this American session it has traded around 1.0299 daily fractal. At the moment, the pair is at 1.0287. Given the fact, the Momentum Indicator has found a support area which has indicated a probable rebound of the pair, we recommend buying the pair at current levels with targets at 1.0374 and 1.0522.

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