Tuesday, January 20, 2009

Australian Dollar succumbed to USD strength-Jan 21.

Australian Dollar succumbed to USD strength although held up better than others as Oil and Gold showed some buoyancy. Aussie has R1: 0. 6650,R2: 0.6680 as resistance levels and S1:0.6450 S2: 0.6440 as support levels.Chart pattern signals bull note for the day .Trading range is expected between 0.6460-0.6640 levels Stochastic and momentum are seen trending up giving bullish signals but caution required as the Currency is also seen trading below the moving average.

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