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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