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Australian Dollar: Rebound Expected

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

Update on supports and resistances.

Resistance3:134
Resistance2:127.5
Resistance1:122
Last:114.9
Pivot:111
Support1:111
Support2:105
Support3:102
Pivot: 111

Our preference: Long positions above 111 with targets @ 122 & 127.5 in extension.

Alternative scenario: Below 111 look for further downside with 105 & 102 as targets.

Comment: the RSI has just landed on a support around 30% and is reversing up.

134
127.5
122
114.9 (last)
111
105
102

*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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