Australian Dollar: Under Pressure

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Australian Dollar: Under Pressure

By Trading Central on May 29, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	142.75
Resistance2:	137.6
Resistance1:	133.75
Last:	125.15
Pivot:	133.75
Support1:	122.5
Support2:	117.5
Support3:	113.5

Pivot: 133.75

Our preference: Short positions below 133.75 with targets @ 122.5 & 117.5 in extension.

Alternative scenario: Above 133.75 look for further upside with 137.6 & 142.75 as targets.

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

142.75
137.6
133.75
125.15 (last)
122.5
117.5
113.5

*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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