WEEKLY OUTLOOK AUD/USD : March 11, 2013

[acetraderfx]

WEEKLY OUTLOOK AUD/USD - 1.0220

11 Mar 2013 01:34GMT

Despite aud's retreat after last week's rally fm 1.0146 to as high as 1.0303, as this move signals recent erratic fall fm Jan's near 4-month peak at 1.0599 signals a temp. low is made, choppy consolidation is seen n below 1.0146 is needed to extend aforesaid fall to 1.0062 but sup 0.9970 shud hold.

In view of abv analysis, exit previous short n sell aud again on further recovery as only abv 1.0375 wud confirm low is made, risks 1.0450/60 later.

STRATEGY : Exit short n sell at 1.0290

POSITION : Short at 1.0270

OBJECTIVE : 1.0150

STOP-LOSS : 1.0345

RES : 1.0303/1.0341/1.0368

SUP : 1.0183/1.0116/0.9970