TODAY SIGNAL AUD/USD--16 AUGUST, 2013
The Aussie ended the session on Thursday with gains of 0.18%, versus the US dollar,
bouncing back close to a percent from the session lows. Trend remains weak with crucial
resistances placed at 0.9160- 0.9200; top end of the near term bearish channel, close
above which the gains could extend to 0.9250- 0.9300. however, near and medium term
target for the Aussie are placed at 0.8800-0.8850 and 0.8400- 0.8500; targets for the symmetrical triangle in a
downtrend. Short the pair on rallies up to 0.9300.
TRADING RECOMMENDATIONS
SHORT:
Hold on to short positions initiated at 0.9170 with a stop at 0.9210 for a profit target of 0.9050


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