Australian Dollar gained against the USD initially but came under extreme selling pressure from the AUD/JPY. As US stocks continued to plunge support for the AUD finally gave way and late US trading saw the Aussie plunge. Looking Ahead for September RBA minutes.
Tech Outlook:
AUD R1: 0. 8080 S1:0.7850
R2: 0.8090 S2: 0.7840
Chart pattern supports bear note for the day. Trading range is expected between 0.7860-0.8070 levels .MACD is seen in the oversold area but is seen giving bullish crossovers parabolic is also supporting the bull note.
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