TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER - AUD/USD


Thursday, April 1, 2004 2:36 GMT
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 103.99

Although yesterday`s resumption of medium term downtrend suggests further weakness
towards 102.70/75 would be seen later, loss of downward momentum would prevent sharp
fall today and risk has increased for a much-needed corrective rebound.

Only break of 105.16/20 would signal a temporary low is made and yield correction later.



INTRA-DAY AUD/USD OUTLOOK

Although aussie has eased after yesterday`s rally to 0.7670, pullback should be limted to
0.7625/30, yield marginal gain twds 0.7695/00, however, loss of near term upward
momentum would cap price below dynamic resistance at 0.7719 (61.8% retracement of
0.8005-0.7255).

Suggest to buy dips, stop at 0.7610 and take profit on subsequent rise...


Rate: 0.7640
Strategy / Entry Level: Long at 0.7640
Position:

Objective: 0.7680

Stop-Loss: 0.7610
Range Forecast: 0.7630 / 0.7660
Resistance: 0.7670/0.7719/0.7775

Support: 0.7627/0.7559/0.7531



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