Monday, October 29, 2012

More Thoughts on #Aussie #Dollar

More Thoughts on #Aussie #DollarSocialTwist Tell-a-Friend
Attached is a daily chart of December Aussie Dollar.   

ADZ2 appears to be at the higher end of a consolidation triangle and poised to  head toward initial support of 102.48 and possibly as low as 102.00.

We will consider a short position at current level of 103.10 in anticipation of this.  A trade of 103.70 or a settle above 103.60, and we will stopped out of our shorts.  The trade surrounding 102.48 will be interesting, as we view it as a pivot point.  If this levels gives with little fight, we would add to short looking for quick move to 102.00.

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