AUD Trading Outlook (18-05-2016)

Trade AUD/USD Intraday: turning down.

Pivot: 0.7335

Our preference: short positions below 0.7335 with targets @ 0.7280 & 0.7265 in extension.

Alternative scenario: above 0.7335 look for further upside with 0.7365 & 0.7400 as targets.

Comment: the immediate trend remains down and the momentum is strong.

Supports and resistances:
0.7400
0.7365
0.7335
0.7295 Last
0.7280
0.7265
0.7245

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