Australian Dollar broke 0.90000 level and fell as traders increased bets that the central bank will reduce borrowing costs and on strong USD but held up well against other currencies after the July Employment report surprised to the upside. July Unemployment change was +10.9K .
Tech Outlook:
AUD is seen on a bear note and is expected to trade in the range of 0.8890-0.9050 levels. With good support seen at 0.8840 levels and key resistance is seen at 0.9070 levels. Market has breached the psychological level of 0.9000 and is trending down .Currency is seen trading well below the moving averages confirming the downside move
AUD is seen on a bear note and is expected to trade in the range of 0.8890-0.9050 levels. With good support seen at 0.8840 levels and key resistance is seen at 0.9070 levels. Market has breached the psychological level of 0.9000 and is trending down .Currency is seen trading well below the moving averages confirming the downside move
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