FX.co ★ AUD/USD Around EMA 200 for August 30, 2012 (Daily Strategy)

The Australian dollar remains under downward pressure as market sentiment remains weak due to weak construction and mining data in Australia. Now we are approaching to the 200 day moving average periods (blue). This is a key point because a close below this level would increase the chances of a new bearish sequence.
Therefore, this gives us the option to buy at this level or sell below it. Only if the pair closes below the 1.0315 level, we recommend selling with objectives to the fractal of 1.0215, a break of this level will signify mass sales of the pair to 1.0006.

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