FX.co ★ AUD/USD - Buy above fractal 1.0299 - for April 25, 2013 (daily strategy)

The Australian dollar had a bullish momentum; we mentioned yesterday that this pair was at the beginning of a new upward sequence. Given that, the pair has broken the 1.0299 fractal and trading above this level increases the likelihood of an upward movement for the next few days to the level of the 200-day moving average around 1. 0380.
The Momentum Indicator is showing upward force which is likely to be a rebound in the fractal of 1.0299, at this level we recommend buying.

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