FX.co ★ AUD/USD Bearish Outlook for August 15, 2012 (Daily Strategy)

The Australian dollar demonstrates a downward sequence, and we expect it to reach the moving average of 200 periods (blue).
At this point, the pair may have a bullish rebound; as the pair was stopped by the fractal at 1.0440, it is possible that the pair will reach the 1.0545. This level will give us the opportunity to sell the pair at resistance level, with objective at 1.0288.
Our medium term perspective is bullish for this pair, and we expect levels of support for purchase.
Any news from China would not affect the Australian dollar.

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