FX.co ★ AUD/USD - Buy Long 0.9167 - daily strategy for July 02, 2013

The Australian dollar fell after having touching the 0.92 area amid the RBA’s decision on the monetary policy stance. The regulator left its benchmark rate unchanged. As the result the pair fell to the daily support level. There is a likelihood that the pair will fail to break the low of 0.9109 which intensify the possibility of reaching the 0.9285 level, its first weekly resistance. If the pair manages to hit this level, it may quickly rise to the psychological level area of 0.95. Now, looking at the chart, we notice that the MACD indicator has formed three differences, indicating that an upward movement may continue above 0.91. Therefore, we recommend buying at the current price levels.

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