Australian Dollar bounced again into the European session but as Gold tested the $800 support the Aussie was sold back to the .8700 level. The Nab Business confidence survey remained at -9 but the Westpac Consumer sentiment jumped 9.1% in July. Wage Price Index Jumps to 1.2% in Q2.
Technical view aug 13.08.2008
iAUD s expected to be on downtrend for the day. trading range is expected between 0.8560-1.8750 levels for the day. currency lends support at 0.8550 levels for the day and holds resistance is seen at 0.8760 levels for the day. stochastic indicates slight upward correction in near term . Momentum indicates the same for the currency for the day.
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