AUD Trading Outlook (08-01-2016)

AUD/USD Intraday: the downside prevails.

Pivot: 0.706

Our preference: short positions below 0.706 with targets @ 0.6975 & 0.693 in extension.

Alternative scenario: above 0.706 look for further upside with 0.7130 & 0.7175 as targets.

Comment: as long as 0.706 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
0.7175 ***
0.7130 ***
0.706 ***
0.7018 Last
0.6975 ***
0.693 **
0.69 ***

          

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