Australian Dollar tossed and turned with the market sentiment, initially under severe pressure from heavy AUD/JPY selling and mounting stocks losses before reversing sharply into the US close. Gains were broad based and were helped along from buoyant commodities and Gold’s recent gains.
Tech Outlook:
AUD R1: 0. 8180 S1:0.7950
R2: 0.8190 S2: 0.7940
Chart pattern supports bull note for the day. Trading range is expected between 0.7980-0.8160 levels .Both stochastic and momentum are seen trending up giving bullish signals but parabolic has its own doubt in the trend.
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