Australian Dollar: Under Pressure

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Australian Dollar: Under Pressure

By Trading Central on June 2, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	142.75
Resistance2:	137.6
Resistance1:	130
Last:	122.35
Pivot:	130
Support1:	117.5
Support2:	113.5
Support3:	111.25

Pivot: 130

Our preference: Short positions below 130 with targets @ 117.5 & 113.5 in extension.

Alternative scenario: Above 130 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
130
122.35 (last)
117.5
113.5
111.25

*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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