AUD Trading Outlook (05-04-2016)

AUD/USD ST: the bias remains bullish

Pivot: 0.7260

Our preference: long positions above 0.7260 with targets @ 0.7805 & 0.8080 in extension.

Alternative scenario: below 0.7260 look for further downside with 0.7100 & 0.6820 as targets.

Comment: technically the RSI is above its neutrality area at 50.

Supports and resistances:
0.8300 **
0.8080 ***
0.7805 ***
0.7587 Last
0.7260 ***
0.7100 **
0.6820 ***

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