AUD Trading Outlook (09-05-2016)

AUD/USD ST: turning down

Pivot: 0.7685

Our preference: short positions below 0.7685 with targets @ 0.7260 & 0.7100 in extension.

Alternative scenario: above 0.7685 look for further upside with 0.7840 & 0.8080 as targets.

Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
0.8080 **
0.7840 ***
0.7685 ***
0.7370 Last
0.7260 **
0.7100 ***
0.6815 ***

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