FX.co ★ AUD/USD Buy Above 0.9630, November 25, 2011 (Daily Strategy)

AUD/USD

The Australian Dollar - U.S. Dollar pair The currency maintained its sliding trend this morning and is being trade in the narrow range of 0.9712-0.9670. It is likely that the Australian, goes to the second daily support around 0.9630. a break below this level push to new lows to the 0.9400 level, so if we look for a rebound on this support, we have a point of exit below 0.9600. The momentum indicator and range indicator, are showing oversold levels. Our goal in this exercise as just below the downtrend line. around 0.9785 dollars per Australian dollar.