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Trading Central: Australian Dollar Rebound Expected
Written by article default Friday, 18 September 2009 06:55
Update on supports and resistances.
| Resistance3: | 134 |
| Resistance2: | 127.5 |
| Resistance1: | 122 |
| Last: | 115 |
| Pivot: | 110 |
| Support1: | 110 |
| Support2: | 105 |
| Support3: | 102 |
Our preference: Long positions above 110 with targets @ 122 & 127.5 in extension.
Alternative scenario: Below 110 look for further downside with 105 & 102 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
134
127.5
122
115 (last)
110
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