Australian dollar held firm against the U.S. currency supported by high commodity prices, although growing risk aversion checked gains.
Tech Outlook:
AUD is expected to be in green for the day. Trading range is expected between 0.9560-0.9670.Good support seen at 0.9540 and resistance for the currency is seen at 0.9700. Currency is seen trading well above the moving average supporting the bull trend. Stochastic is also trending up but caution required as the market is in overbought levels.
Tech Outlook:
AUD is expected to be in green for the day. Trading range is expected between 0.9560-0.9670.Good support seen at 0.9540 and resistance for the currency is seen at 0.9700. Currency is seen trading well above the moving average supporting the bull trend. Stochastic is also trending up but caution required as the market is in overbought levels.
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