Australian Dollar: The Downside Prevails
Update on supports and resistances.
| Resistance3: | 127.5 |
| Resistance2: | 122.5 |
| Resistance1: | 116.5 |
| Last: | 108.97 |
| Pivot: | 116.5 |
| Support1: | 106 |
| Support2: | 102 |
| Support3: | 94 |
Our preference: Short positions below 116.5 with targets @ 106 & 102 in extension.
Alternative scenario: Above 116.5 look for further upside with 122.5 & 127.5 as targets.
Comment: the RSI is bearish and calls for further decline.
127.5
122.5
116.5
108.97 (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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