FX.co ★ AUD/USD - Exhausted - daily strategy for August 09, 2013

The Australian dollar, this week had a recovery from the first month of 0.8840 support, which we had observed in our weekly analysis on Monday, and at a fundamental level this recovery that has several reasons, among which are a better short-term view of the Chinese economy, Australia's largest trading partner, and the near certainty that the RBA interest rates will not remain cut. All this gave him strength to the Aussie, which reached maximum of 0.9170, although, it looks a little frazzled this pair, we expect a reversion to the levels of 0.90, in order to resume the upward force, therefore, in current levels, we recommend selling with objectives to the level of 0.90.

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