AUD strengthened from a downgrade in the US inflation rate coupled with a stronger risk appetite for commodity currencies. Furthermore, speculation is growing around Chinese entities as wanting a $22 billion stake in BHP, further increasing the demand for the Aussie dollar.
TECHNICAL FOR THE DAY
AUD is expected to trade in the range of 0.9330-0.9420.With key support seen at 0.9320 ans 0.9300 levels. Good resistance for the currency is seen at 0.9430.Stochastic and Relative Strength Index is are giving indication of the currency to have a small downside correction.
AUD is expected to trade in the range of 0.9330-0.9420.With key support seen at 0.9320 ans 0.9300 levels. Good resistance for the currency is seen at 0.9430.Stochastic and Relative Strength Index is are giving indication of the currency to have a small downside correction.
No comments:
Post a Comment