FX.co ★ AUD/USD Bearish Outlook, For February 23, 2012 (Daily Strategy)

AUD/USD

The Australian dollar - U. S. Dollar pair, following an ounce of gold, which again is very strong, trading at 1.0703 and continuous in the range of 200 pips, as we noted in the yellow box, and showing signs of a possible change in trend and a fall with greater intensity.

As we see in the graph the autraliano, is preparing a pullback, and entering an area of ​​strong resistance, so we recommend waiting for the daily close, to sell. Believe that all this sharp rise the pair must correct at least to the level of 1.0280 U.S. dollars per Australian dollar.