The Australian dollar remains under downward pressure below 1.04. This level continues to put downward pressure on the pair. Therefore it is likely to observe a decline to the level of 1.0341, weekly pivot point. At this level we recommend buying the pair with objectives to 1.04, and above until 1.0480. We may add, that the pair is above the 200 day moving average, which increases our bullish outlook of the Aussie, for the next few days. Therefore, we outline the next signal that will have validity for this week.
Signal for March 18 - 23, 2013
Buy if rebound is around 1.0341 with take profit at 1.04 and 1.0480 (W_R1), stop loss is below 1.0270 (W_S1).
_____WEEKLY_____
Weekly - R3 = 1.0690
Weekly - R2 = 1.0551
Weekly - R1 = 1.0480
Weekly Pivot = 1.0341
Weekly - S1 = 1.0270
Weekly - S2 = 1.0131
Weekly - S3 = 1.0060
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.0660
Monthly - R2 = 1.0558
Monthly - R1 = 1.0386
Monthly Pivot = 1.0284
Monthly - S1 = 1.0112
Monthly - S2 = 1.0010
Monthly - S3 = 0.9838
