ETF CORNER

FXA : Open up and say aaaahhhhh !

FXA : Australian dollar tops at $88 !

I made clear on the last post (Click Here) on FXA (Australian Dollar) that $88 would halt the rise in FXA ! So far so good !!! I don't need to write anything, the chart speaks for itself !

FXA : Australian Dollar.

Upside in The Australian Dollar is limited and will likely stop at (R) resistance level $88 ! I would focus now on a some sideways action and finally a multi month pullback towards the (S) support area around $75 in early 2010.

FXA : Crocodile Dundee 2 ! A low risk entry point on the short side.

The last post on FXA (Australian dollar) from June 11 th (Cick here) I said that the $85 level will represent a delicious entry point on the short side. Well we are getting quite close to that point. Seriously, looking at this chart what ,would you buy or short ?

FXA : Currencyshares Australian dollar