Thursday, July 24, 2008

Heavy selling in Aussie-jul 24.

Australian Dollar fell hard for the 3rd day as the commodity complex continued to slide. AUD is expected to be on a bearish note for the day. With the trading range expected between 0.9530-0.9620.With good support seen at 0.9520 levels and resistance is seen at 0.9630.Currency is seen trading below the moving averages giving bearish outlook .Parabolic and Momentum is also supporting the bear note.

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