Australian Dollar continued to be well supported as commodities rallied and investors searched for Yield. AUD/JPY was very well supported and made new 2 month highs.
Technical Outlook:
AUD R1: 0. 7180 S1:0.7010
R2: 0.7190 S2: 0.7000
Chart pattern signals bear note for the day .Trading range is expected between 0.7020-0.7160 levels .Stochastic and momentum are seen trending down . Currency is seen trading on the moving average only a break of it can confirm the bear note.
AUD R1: 0. 7180 S1:0.7010
R2: 0.7190 S2: 0.7000
Chart pattern signals bear note for the day .Trading range is expected between 0.7020-0.7160 levels .Stochastic and momentum are seen trending down . Currency is seen trading on the moving average only a break of it can confirm the bear note.
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