FX.co ★ AUD/USD: bullish outlook - daily strategy for July 10, 2013

The Australian dollar positioned above the weekly pivot of 0.9118. The fact is that now it this showing strength in the short term. It will now be tested by the data of China's trade balance, which will be known during the course of the Asian session. The data willl have a particular impact on the Australian dollar. China represents the largest market for exports from Australia, a country whose economy declined in recent months, with a currency that lost a lot of ground, partly for this reason, and also because of the sharp drop in gold, which also influences the Aussie. Therefore, we recommend to be attentive to this information when you can make decisions according to the data. Therefore, according to our technical analysis, we recommend buying if the pair back to the weekly pivot level of 0.9118, with targets to 0.9333 resistance.

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