AUD/USD – Strong Resistance 1.0486, For December 05, 2012 (Daily Strategy)
The AUD/USD remains bullish after the Reserve Bank of Australia cut the interest rate. In front of it the Aussie has a very strong resistance in 1.0486. If this level is broken bluntly it will open the way to the level of 1.06 (Fractal), our ultimate target. On the other hand, if the pair manages to negotiate below 1.0450 (Fractal) and closes daily chart, then you can sell to the level of the 50-day moving average at 1.0360.
Do not forget that this pair is closely linked to China’s economy and any risk in the country could affect the Aussie.
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The material has been provided by Instaforex Company – instaforex.com