****** DAILY OUTLOOK on Minors AUD/USD: April 12, 2013 ******

[acetraderfx]

DAILY AUD/USD OUTLOOK - 1.0547

12 Apr 2013 07:03GMT

Despite y'day's 'erratic' rise to a fresh 2-1/2 month high of 1.0583, as long as 2013 top at 1.0599 (Jan) holds, prospect of a retrace. of early upmove fm 1.0116 remains, below 1.0500 confirms temporary high is made n yields retracement twd 1.0474.

Hold short n only abv key res 1.0625 (Sep 12') wud extend MT uptrend to 1.0650/60 later next week.

STRATEGY : Hold short

POSITION : Short at 1.0565

OBJECTIVE : 1.0480

STOP-LOSS : 1.0585

RES : 1.0583/1.0599/1.0625

SUP : 1.0500/1.0474/1.0448