Australian Dollar: Rebound Expected

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Australian Dollar: Rebound Expected

By Trading Central on May 4, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	155
Resistance2:	152.5
Resistance1:	146.25
Last:	135.35
Pivot:	133.65
Support1:	133.65
Support2:	130
Support3:	126.5

Pivot: 133.65

Our preference: Long positions above 133.65 with targets @ 146.25 & 152.5 in extension.

Alternative scenario: Below 133.65 look for further downside with 130 & 126.5 as targets.

Comments: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

155
152.5
146.25
135.35 (last)
133.65
130
126.5

*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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