Australian Dollar: Rebound Expected
Update on supports and resistances.
| Resistance3: | 127.5 |
| Resistance2: | 122.5 |
| Resistance1: | 116.5 |
| Last: | 109.34 |
| Pivot: | 106 |
| Support1: | 106 |
| Support2: | 102 |
| Support3: | 94 |
Our preference: Long positions above 106 with targets @ 116.5 & 122.5 in extension.
Alternative scenario: Below 106 look for further downside with 102 & 94 as targets.
Comment: the RSI is supported by a rising trend line, the pair is pulling back on its support ahead of a rebound.
127.5
122.5
116.5
109.34 (last)
106
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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