Wednesday, May 14, 2008

Aussie eased


AUD eased further throughout the day failing to gain support from a poor Wage Price Index coming in well below expectations. Looking ahead for the day RBA Gov 's speech where he is widely expected to discuss the State of the Australian Economy in its current climate and its history in recent decades. Aussie is expected to be on downside for the day. the currency lends its support at 0.9245 levels and holds resistance at 0.9370 levels. Trading range is expected between 0.9250-0.9365 levels. the prices are trading below the fast moving average and stochastic indicates the currency to be on downside for the day.

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