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Australian Dollar: Under Pressure 03/10/2010
Written by article default Sunday, 03 October 2010 03:19
Update on supports and resistances.
Pivot: 110.5
Our preference: Short positions below 110.5 with targets @ 102 & 100 in extension.
Alternative scenario: Above 110.5 look for further upside with 114 & 116.5 as targets.
Comment: the pair is pushing below a strong support area.
116.5
114
110.5
102.82 (last)
102
100
96.15
*USD/AUD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the AUSTRALIAN DOLLAR.