Australian Dollar: Under Pressure

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Australian Dollar: Under Pressure

By Trading Central on May 28, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	146.25
Resistance2:	142.75
Resistance1:	137.5
Last:	127.4
Pivot:	137.5
Support1:	126
Support2:	122.5
Support3:	117.5

Pivot: 137.5

Our preference: Short positions below 137.5 with targets @ 126 & 122.5 in extension.

Alternative scenario: Above 137.5 look for further upside with 142.75 & 146.25 as targets.

Comments: the immediate trend remains down and the momentum is strong.

146.25
142.75
137.5
127.4 (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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