Australian Dollar: Under Pressure

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Australian Dollar: Under Pressure

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

Update on supports and resistances.

Resistance3:	122.5
Resistance2:	118.15
Resistance1:	113.85
Last:	109.8
Pivot:	113.85
Support1:	107
Support2:	102
Support3:	94

Pivot: 113.85

Our preference: Short positions below 113.85 with targets @ 107 & 102 in extension.

Alternative scenario: Above 113.85 look for further upside with 118.15 & 122.5 as targets.

Comment: the RSI has just banged against its neutrality area at 50% and is reversing down.

122.5
118.15
113.85
109.8 (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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