Australian Dollar: Rebound Expected

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Australian Dollar: Rebound Expected

By Trading Central on April 29, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	155
Resistance2:	152.5
Resistance1:	146.25
Last:	138.3
Pivot:	136.5
Support1:	136.5
Support2:	133.65
Support3:	130

Pivot: 136.5

Our preference: Long positions above 136.5 with targets @ 146.25 & 152.5 in extension.

Alternative scenario: Below 136.5 look for further downside with 133.65 & 130 as targets.

Comments: the RSI lacks downward momentum.

155
152.5
146.25
138.3 (last)
136.5
133.65
130

*USD/AUD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the AUSTRALIAN DOLLAR. For details go to www.ise.com

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