AUD rallied as commodities headed higher. The Aussie Dollar was also boosted by rebounding Asian Stock Markets and after Federal Reserve chairman Ben S.Bernanke eased concern that the U.S. economic slowdown will deepen prompting a return to the High Yielding Currency. All focus is being placed on Retail Sales figures and RBA Governor Stevens talk. AUD is expected to trade in the range of 0.9090-0.9190.With good support seen at 0.9070 and key resistance is seen at 0.9200. Currency is expected to be on a mixed note for the day as Sensitivity indicator Stochastic lying on a neutral territory and momentum oscillators holding the currency on upper note . Currency is also trading well below the fast moving averages.
Thursday, April 3, 2008
AUD tracks commodities
AUD rallied as commodities headed higher. The Aussie Dollar was also boosted by rebounding Asian Stock Markets and after Federal Reserve chairman Ben S.Bernanke eased concern that the U.S. economic slowdown will deepen prompting a return to the High Yielding Currency. All focus is being placed on Retail Sales figures and RBA Governor Stevens talk. AUD is expected to trade in the range of 0.9090-0.9190.With good support seen at 0.9070 and key resistance is seen at 0.9200. Currency is expected to be on a mixed note for the day as Sensitivity indicator Stochastic lying on a neutral territory and momentum oscillators holding the currency on upper note . Currency is also trading well below the fast moving averages.
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