AUD Trading Outlook (07-03-2016)
AUD/USD Intraday: the upside prevails.
Pivot: 0.7346
Our preference: long positions above 0.7346 with targets @ 0.7460 & 0.7495 in extension.
Alternative scenario: below 0.7346 look for further downside with 0.7295 & 0.7250 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
0.7530
0.7495
0.7460
0.7364 Last
0.7346
0.7295
0.7250