Australian Dollar cracked 0.700 in early trade and never got back above the key level falling sharply with commodities and stocks. AUD/JPY fell over 4% on the day as the markets risk aversion notched higher. Noted strong support at .6770 will prove crucial going forward. Technical Outlook:
AUD R1: 0. 6850 S1:0.6660
R2: 0.6880 S2: 0.6650
Chart pattern signals bear note for the day .Trading range is expected between 0.6680-0.6840 levels Stochastic and momentum are seen trending down giving bear note . Currency is seen trading below the moving average giving bearish crossovers.
Monday, January 12, 2009
Australian Dollar fell sharply with commodities -Jan 13.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment