Australian Dollar: The Downside Prevails

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Australian Dollar: The Downside Prevails

By Trading Central on June 4, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	142.75
Resistance2:	137.6
Resistance1:	130
Last:	124.55
Pivot:	130
Support1:	121.5
Support2:	117.5
Support3:	113.5

Pivot: 130

Our preference: Short positions below 130 with targets @ 121.5 & 117.5 in extension.

Alternative scenario: Above 130 look for further upside with 137.6 & 142.75 as targets.

Comments: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

142.75
137.6
130
124.55 (last)
121.5
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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