29.03.201316:46 Forex Analysis & Reviews: AUD/USD - bearish outlook - for March 29, 2013 (daily strategy)

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Losing positions against the dollar and after reaching the roof of the bearish channel, this pair is trading under downward pressure; the break of 1.0410 could accelerate the fall of the Aussie to 1.0373 fractal level and line of the moving average 200 days. If the pair closes below this level, the next bottom is left as support in 1.03, as the final objective. The MACD indicator is showing a bearish signal. Therefore, we recommend selling this pair, if given a pullback to the area of 1.0460, with short-term objectives to 1.03.

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.