FX.co ★ AUD/USD - Sell below 0.9309 - daily strategy for July 17, 2013

This morning at the American session, the Australian dollar was at the very bullish trading at 0.9275 levels, close to the strong resistance of 0.9309. Given that it is showing overbought levels, according to our momentum indicator, it is more likely to observe an imminent decline for the next few hours. So it is recommended to sell below 0.9310, at any price level with targets 0.9117, weekly pivot level. Yesterday’s trading was favored by the minutes of the Bank of the Reserve Bank of Australia, which reflected some level of concern about a possible resurgence of inflation, which would stop the interest rate cuts, this impulse to the Aussie. Now we believe that it must go back a few points.

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