Australian Dollar: Rebound In Sight

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Australian Dollar: Rebound In Sight

By Trading Central on May 12, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	146.25
Resistance2:	142.75
Resistance1:	137.5
Last:	130.7
Pivot:	129
Support1:	129
Support2:	126
Support3:	122.5

Pivot: 129

Our preference: Long positions above 129 with targets @ 137.5 & 142.75 in extension.

Alternative scenario: Below 129 look for further downside with 126 & 122.5 as targets.

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

146.25
142.75
137.5
130.7 (last)
129
126
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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