AUD Trading Outlook (11-02-2016)

AUD/USD Intraday: the upside prevails.

Pivot: 0.7065

Our preference: long positions above 0.7065 with targets @ 0.7130 & 0.7170 in extension.

Alternative scenario: below 0.7065 look for further downside with 0.7015 & 0.6970 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
0.7200 **
0.7170 **
0.7130 ***
0.7103 Last
0.7065 **
0.7015 *
0.6970 ***

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