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Australian Dollar: Under Pressure 07/10/2010
Written by article default Thursday, 07 October 2010 09:44
Update on supports and resistances.
Pivot: 108.5
Our preference: Short positions below 108.5 with targets @ 100 & 96.15 in extension.
Alternative scenario: Above 108.5 look for further upside with 114 & 116.5 as targets.
Comment: the pair is pushing below a strong support area.
116.5
114
108.5
101.75 (last)
100
96.15
91.75
*USD/AUD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the AUSTRALIAN DOLLAR.