Australian Dollar: Caution

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Australian Dollar: Caution

By Trading Central on May 21, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	146.25
Resistance2:	142.75
Resistance1:	137.5
Last:	129.8
Pivot:	126
Support1:	126
Support2:	122.5
Support3:	117.5

Pivot: 126

Our preference: Long positions above 126 with targets @ 137.5 & 142.75 in extension.

Alternative scenario: Below 126 look for further downside with 122.5 & 117.5 as targets.

Comments: the pair is still facing its channel support, caution.

146.25
142.75
137.5
129.8 (last)
126
122.5
117.5

*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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