FX.co ★ AUD/USD - Buy above fractal 1.0225 - for April 26, 2013 (daily strategy)

The Australian dollar is within a range between 200-day EMA, and 1.0224 fractal. Given the fact the Momentum Indicator is showing a bearish signal. The pair is likely to move down to the level of 1.0240. On this level we recommend buying, it is likely in the next few days the pair returns to the area of the 200-day moving average. Therefore, below 1.0225 the Aussie would initiate a new sequence, so we suggest placing the stop loss below the fractal.

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