DESCRIPTION:
We spotted the AUD/USD pair has already broke out bellow the Downtrend channel. Although the previous support at 1.0485 has already been breached, it indicates the pair has now a downside momentum and it seems it will be trying to go towards 1.0395.
Recomendation:
SELL at 1.0424.
Stop loss is at 1.0434.
Take profit is at 1.0420.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
E-mail: Arief.jakarta@indo.instaforex.com
Yahoo Messenger and Skype: Arief.ifx_jakarta
Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
