Thursday, January 15, 2009

Australian Dollar took advantage of US stocks rally-jan 16.

Australian Dollar took advantage of the late rally in US stocks to reverse losses that were seen on the back of weak commodities and rising risk aversion. December Unemployment came in better than expected at -1.2K vs. -20k Forecast. Also released the December Unemployment Rate which jumped to 4.5% vs. 4.4% previously
R1: 0. 6820 S1:0.6580
R2: 0.6830 S2: 0.6560
Chart pattern signals bull note for the day .Trading range is expected between 0.6595-0.6800 levels Stochastic and momentum are seen trending up giving bullish signals .Currency is on the moving average.

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