FX.co ★ AUD/USD - Buy above 0.9747 - daily strategy for May 17, 2013

The Australian dollar influenced by interest rate cut from the RBA, and some fundamentals of Australia that do not favor, has contributed to making this pair to fall to weekly support levels S2. It is likely that at this level the pair finds a fund that in the short term drives it the level of 1.00. This morning the pair is trading at 0.9727. It is recommended not to sell, because the indicators show a possible rebound. So we should expect that the pair is quoted above weekly support S2 which is around 0.9747, then there one can buy with the first target 0.9885.

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