[B] DAILY AUD/USD OUTLOOK - +0.9770
20 May 2013 02:04GMT[/B]
Fri’s selloff to a fresh 11-month trough at 0.9711 suggests erratic decline fm 1.0625 (Sep 12’) remains in progress n marginal weakness below 0.9700 is likely, however, near term ‘loss of momentum’ wud limit downside to 0.9662/70 n yield rebound.
Sell on recovery with stop as indicated, break wud risk stronger gain to 0.9831
STRATEGY : Hold short
POSITION : Short at 0.9770
OBJECTIVE : 0.9700
STOP-LOSS : 0.9805
RES : 0.9771/0.9797/0.9831
SUP : 0.9711/0.9662/0.9616