ISE FX Australian Dollar: bounce.

By IBTimes Staff Reporter | January 26 2010 11:20 AM

Update on supports and resistances.Resistance3 : 122.5Resistance2 : 118.15Resistance1 : 114.25Last Price : 111.25Pivot Point: 106Support1 : 106Support2 : 102Support3 : 94Pivot: 106Our preference: Long positions above 106 with targets @ 114.25 & 118.15 in extension.Alternative scenario: Below 106 look for further downside with 102 & 94 as targets.Comment: the pair is shaping a rounding bottom which calls for a bounce.122.5118.15114.25111.25 (last)10610294*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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