Australian Dollar traded between 0.71 and 70 although was better offered than bought against the greenback. Commodities were generally weaker as recession fears hurt demand.
Technical Outlook:
AUD R1: 0. 7050 S1:0.6830
R2: 0.7080 S2: 0.6820
Chart pattern signals bear note for the day .Trading range is expected between 0.6840-0.7030 levels .Stochastic and momentum are seen trending down giving bear note . Currency is seen trading below the moving average giving bearish crossovers.
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