Australian Dollar rallied following hawkish RBA minutes which highlighted that policy makers were considering another rate rise during the May 6 meeting. As a result the Aussie set new multi-year highs above the 96 cents .Adding to further Aussie strength were comments that the currency could have been potentially higher given the current commodity surge. Westpac consumer confidence sent at 2.7% for the month May
Tech view:
Aussie is seen on a bull run for the day with the trading range of 0.9540-0.9620. currency has its support at 0.9520 levels and holds resistance at 0.9630 levels break of which will see 0.9650.Aussie is seen trading above the fast moving average giving confirmation on the bull run. Both Stochastic and RSI are also supporting the bull note.
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