FX.co ★ AUD/USD Bearish Outlook for March 7, 2012 (Daily Strategy)

AUD/USD

The AUD/USD pair has found a bottom at 1.0540 around the second weekly support, but a long-term view is that we should expect the pair to continue the fall, but now for the moment, given the market is uncertain. It could find a small correction to 1.0650 or up to 1.07
If our strategy remains bearish, we recommend selling the pair at high levels of resistance or when there is a rebound. Our bearish target will be placed at 1.0430 dollars per Australian dollar.
The MACD indicator is located in an intermediate zone, showing a neutral signal.