Australian Dollar: Rebound Expected

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Australian Dollar: Rebound Expected

By Trading Central on May 5, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	152.5
Resistance2:	146.25
Resistance1:	143.8
Last:	134.85
Pivot:	133.65
Support1:	133.65
Support2:	130
Support3:	126.5

Pivot: 133.65

Our preference: Long positions above 133.65 with targets @ 143.8 & 146.25 in extension.

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

Comments: the RSI has just landed on a support around 30% and is reversing up.

152.5
146.25
143.8
134.85 (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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