FX.co ★ AUD/USD technical analysis for April 30, 2013

Overview:

AUD/USD: According to the previous events, the price has still been trapped between 1.0360 and 1.0300. Therefore, first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bullish signs. In other words, it will be a good sign to buy above 1.0280 with the first target at 1.0340 and the price will climb towards 1.0380. However, if the pair fails to break 1.0400, the market will indicate a bearish opportunity below 1.0400, then the level will really act as a strong resistance. It will be a good sign to sell below 1.0400 with the first target at 1.0333 and it will call for a downtrend in order to continue bearish movement towards 1.0285.

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