Australian Dollar caught the uptrend breaking back above 0.6600 but the market was less keen than usual to test higher levels as the outlook for the Australian economy remained uncertain and the expectations of rate cute loom. December Business Confidence -20 vs. -30 previously and Q4 PPI 1.3% vs. 20% previously.
Technical view :
AUD R1: 0. 6730 S1:0.6530
R2: 0.6750 S2: 0.6520
Chart pattern signals bullish note for the day .Trading range is expected between 0.6540-0.6720 levels Stochastic and momentum are seen trending up giving bullish signals .Currency is also trading above the moving average.
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