Yesterday the Australian Dollar fell to minimum of 20 November last year (0.9663) around 0.9675 (May/30/2012). After this point recovers slightly as part of a take profit of the operators.
On the weekly chart we see a low of 0.9663 as the low recorded in November last year. Below this level is the first weekly support 0.9653, and also on this level there is the weekly fractal 0.9660. Considering that the Aussie has strong support to his forehead, we recommend buy as part of the correction and rebound upward, with medium-term objectives to 1.0136 U.S. dollars per Australian dollar.
The momentum indicator is showing bullish signal, a correction is imminent.
If you need a personal consultation, adress me via e-mail: gerardo.porras@analytics.instaforex.com
