Australian dollar rose on speculation that the economy will withstand widening losses among U.S. financial institutions and U.S. Sub prime-mortgage crisis may deepen prompting investors to seek higher-yielding assets in the South Pacific nation.
Tech Outlook:
AUD chart pattern indicates the currency to be on bull note . With the trading range expected between 0.9640-0.9720 levels. Support for the currency is seen at 0.9620 levels and resistance is seen at 0.9750 levels for the day. Momentum and stochastic are signaling towards bullish movement for the day. Moving averages are giving bullish crossovers .
No comments:
Post a Comment