Australian dollar approached its highest as higher prices of commodities and the nation exports boosted the outlook for the economy. Aussie rose on speculation on credit-market losses in the U.S. will deepen,undermining Fed to raise interest rates
TECH OUTLOOK:
AUD chart pattern indicates the currency to be on bear run . With the trading range expected between 0.9590-0.9630 levels. Support for the currency is seen at 0.9560 levels and resistance is seen at 0.9650 levels for the day. Momentum and stochastic are signaling towards a bearish movement .
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