AUD Trading Outlook (01-02-2016)

AUD/USD ST: the downside prevails.

Pivot: 0.739

Our preference: short positions below 0.739 with targets @ 0.665 & 0.635 in extension.

Alternative scenario: above 0.739 look for further upside with 0.753 & 0.7805 as targets.

Comment: as long as 0.739 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
0.7805 ***
0.753 ***
0.739 ***
0.7068 Last
0.665 ***
0.635 **
0.6125 ***

 

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