AUD Trading Outlook (08-03-2016)

AUD/USD Intraday: bullish bias above 0.7385.

Pivot: 0.7385

Our preference: long positions above 0.7385 with targets @ 0.7495 & 0.7530 in extension.

Alternative scenario: below 0.7385 look for further downside with 0.7345 & 0.7295 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
0.7560
0.7530
0.7495
0.7455 Last
0.7385
0.7345
0.7295

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