Australian Dollar lost ground as Gold and Oil continued to retrace gains but was supported by continued demand for the high yielder especially against the JPY. Looking ahead, 2nd Quarter PPI is seen at 1.6% slightly lower than 1.9% in the first Quarter.
Tech outlook:
AUD is expected to be on bull note for the day. With the trading range expected between 0.9680-0.9805.Support for the currency is seen at 0.9650 levels and resistance is seen at 0.9820 levels Currency is trading well above the moving averages
and raising stochastic is also supporting the bull note.
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