FX.co ★ AUD/USD Bullish Outlook, June 09, 2011 (Daily Strategy)

AUD/USD

The Australian dollar – United States dollar is under its first weekly support, this point in the past has been a strong support to push the pair up, believe that the pair continued their downward trend until the next weekly support around 1,0507; therefore drop allows us to pick up the pair at a much lower and more attractive price for a buy position.

The target for the pair can be found around the price range of 1.0700 United States dollars to the Australian dollar.