FX.co ★ AUD/USD Bearish Outlook, December 01, 2011 (Daily Strategy)

AUD/USD

The pair Australian dollar - U.S. dollar it is known that the pair has a high volatility in relation to markets and their correlation is very high. Therefore, the pair has rebounded strongly from its minimum of 0.9660 to the maximum of the day yesterday at 1.0329, 650 pips a rebound.

Technically, it is estimated that the pair will continue their current upward movement but has to overcome the important resistance level of 1.0430. We have a sell order to activate a touch see this level, we believe this will be a very strong resistance torque can not overcome easily.
Our goal for the total realization of this exercise we will place right in the nearest weekly support around 0.9700 U.S. Dollars per Australian Dollars.