This morning at the American session еhe Australian Dollar managed to reach the strong resistance of 0.9341, weekly pivot level. We notice that the pair is proving difficult to break this level, if that happened we must wait for closure of 4H above 0.9341. However, our strategy now is to sell at current price levels, as it is a clear opportunity to sell at least until 0.92 support zone. On the other hand, analyzing what is happening in Australia, it appears that China is the leading consumer of raw materials, are leaving to buy, which in turn is leading to the fall of the Aussie if this continues more and more, it can carry the pair to 0.88 levels in the short term. Therefore, we must be careful, if you want to buy this pair do it only supports weekly, and sell at resistance.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: gerardo.porras@analytics.instaforex.com
