Last week, the Australian dollar had a recovery of 350 points, from a low of 0.8841, as noted in the previous analysis, that there was located the first monthly support. Achieving this level is a great recovery, and was driven up to more as the central bank of Australia, decided to lower the interest rate to 2.50%, with the possibility of further cuts in the future. Now we think this pair must have at least a correction to the first weekly support of 0.9087 with targets at 0.9326. We believe that the following signal will be valid for this week.
Signal for August 12 - 17, 2013
Buy if rebound is around 0.9087 (W_PV) with take profit at 0.9326 (W_R1) and stop loss below 0.90.
_____WEEKLY_____
Weekly - R3 = 0.9693
Weekly - R2 = 0.9454
Weekly - R1 = 0.9326
Weekly Pivot = 0.9087
Weekly - S1 = 0.8959
Weekly - S2 = 0.8720
Weekly - S3 = 0.8592
_____MONTHLY____
Monthly - R3 = 0.9600
Monthly - R2 = 0.9458
Monthly - R1 = 0.92.20
Monthly Pivot = 0.9078
Monthly - S1 = 0.8840
Monthly - S2 = 0.8698
Monthly - S3 = 0.8460
If you would like to get this indicator, feel free to contact me via skype: gerardofx or e-mail: gerardo.porras@analytics.instaforex.com
