Australian Dollar: Under Pressure

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Australian Dollar: Under Pressure

By Trading Central on May 7, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	146.25
Resistance2:	143.8
Resistance1:	137.75
Last:	132
Pivot:	137.75
Support1:	130
Support2:	126.5
Support3:	122.5

Pivot: 137.75

Our preference: Short positions below 137.75 with targets @ 130 & 126.5 in extension.

Alternative scenario: Above 137.75 look for further upside with 143.8 & 146.25 as targets.

Comments: the pair is challenging a key support area, caution.

146.25
143.8
137.75
132 (last)
130
126.5
122.5

*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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