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Australian Dollar: Under Pressure 06/10/2010
Written by article default Wednesday, 06 October 2010 20:39
Update on supports and resistances.
Pivot: 109
Our preference: Short positions below 109 with targets @ 102 & 100 in extension.
Alternative scenario: Above 109 look for further upside with 114 & 116.5 as targets.
Comment: the pair is pushing below a strong support area.
116.5
114
109
102.25 (last)
102
100
96.15
*USD/AUD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the AUSTRALIAN DOLLAR.