ISE FX Australian Dollar: bounce.

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Update on supports and resistances.

Resistance3 : 127.5
Resistance2 : 122.5
Resistance1 : 118.15
Last Price : 111.45
Pivot Point: 106
Support1 : 106
Support2 : 102
Support3 : 94

Pivot: 106

Our preference: Long positions above 106 with targets @ 118.15 & 122.5 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 further recovery.

127.5
122.5
118.15
111.45 (last)
106
102
94

*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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