FX.co ★ AUD/USD 1.0610 Strong Resistance - for August 01, 2012 (Daily Strategy)

The overview of the Australian dollar is strongly bullish for the moment; there is a strong possibility that the pair reaches the level of 1.0610 daily fractal level. This is a strong resistance level, given that indicators show exhaustion in the upward force and there is overbought, technical correction is also possible, and so we must be very careful in our buying positions.
We, therefore, recommend selling the 1.0585 level below 1.0610 daily fractal with objective in the moving average of 200 (blue) sessions.

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