Australian Dollar was possibly the biggest gainer from the US government bailout plan as waves of AUD/JPY selling subsided and stocks look recovered from the crash earlier in the week. Broad based gain in Commodities also supported.
Tech Outlook:
AUD R1: 0. 8450 S1:0.8240
R2: 0.8480 S2: 0.8230
Chart pattern supports bull note for the day. Trading range is expected between 0.8250-0.8430 levels .Momentum are seen trending up giving bullish signals and parabolic is also supporting it. Stochastic is trading at overbought levels and a small downside correction is expected.
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