Australian Dollar: Rebound In Sight

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Australian Dollar: Rebound In Sight

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

Update on supports and resistances.

Resistance3:	122.5
Resistance2:	118.15
Resistance1:	113.85
Last:	110.2
Pivot:	107
Support1:	107
Support2:	102
Support3:	94

Pivot: 107

Our preference: Long positions above 107 with targets @ 113.85 & 118.15 in extension.

Alternative scenario: Below 107 look for further downside with 102 & 94 as targets.

Comment: the RSI has broken above its channel resistance.

122.5
118.15
113.85
110.2 (last)
107
102
94

*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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