Monday, August 18, 2008

Aussie Gains as Fed May Delay Raising Rates -Aug 18.

Australian Dollar rose on speculation the Federal Reserve will delay raising interest rates, maintaining the South Pacific nations' yield advantage over the U.S.
Tech View:
R1: 0. 8830 S1:0.8610
R2: 0.8850 S2:0.8590
Chart pattern gives a indication of a slight upward correction for the day as stochastic is seen trending up supported by Momentum. Trading range for the day is expected between 0.8615-0.8820 levels.

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