08.08.201316:57 Forex Analysis & Reviews: AUD/USD key level is 0.9099 - daily strategy for August 08, 2013

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The Australian Dollar is showing recovery to dissipate the likelihood that the Reserve Bank of Australia continue cutting interest rates, as it did at the beginning of the week. The Aussie could even find the area of 0.92/0.93 for the next few days, reversing losses so strong in recent weeks, however at this moment, it is trading near 0.9099 level of 15 day EMA, since the Momentum indicator approaches the top of the MACD line we believe that the pair could climb to 0.9099 or 0.9115 levels during the session today in this area it is recommend to sell, with objectives to 0.8905 fractal, on the other hand, daily close above 0.9120 would be a clear signal of a new bullish movement, which aims at 0.9320 fractal.

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