empty
 
 
20.07.2012 04:58 PM
AUD/USD Bullish Outlook for July 20, 2012 (Daily Strategy)

 

The Australian dollar is the most favored currency for raw materials in foreign exchange markets and, therefore, this is a great way to keep an eye on the global risk appetite. It rose during Thursday's session to the level of 1.0442, maximum from 1 May. The AUD is showing bearish move now and could become a figure of continuation trend, and with the area of 1.06 in the upcoming days.
The level of 1.03 was significant resistance during the past two weeks. Now it is broken and the pair is trading above the moving average of 200 periods (blue) and having a very strong uptrend.
Therefore, we recommend buying the pair back in the levels of the 200 period moving average around 1.0280 or 1.0140 further down. Our medium-term goal can be located at 1.0611.

 

This image is no longer relevant

 

If you need a personal consultation, contact me via e-mail: [email protected]

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback