|AUD/USD : Short term bearish channel|
--- Follow up analysis ---
I advise traders to trade only short positions parity as the price will be located under 1.04. A stay below 1.0350 will reinforce our bearish sentiment. A break of 1.03 would give a new sell signal for an extension of the bearish rally towards 1.0250 or lower level is this level is broken.
In case of return of above 1.04 then I would advise traders to wait for a breakout of 1.0450 before trading long positions.
Traders with a more agressive strategy could trade the pair according to 1.04 (long above and short below).
Analysis published by Vincent, the 02/06/2013 at 10h00 GMT+2
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|Chart of the pair AUD/USD - Timeframe 1H|