Australian Dollar was volatile but better supported ending at new 3 month highs above 0.7200. High Commodities continued to support. Looking ahead for November Retail sales are forecast at -0.3% vs. 0.7% previously.
Technical outlook:
AUD R1: 0. 7280 S1:0.7120
R2: 0.7290 S2: 0.7100
Chart pattern signals bear note for the day .Trading range is expected between 0.7130-0.7270 levels .Stochastic and momentum are seen flat . Currency is seen trading above the moving average giving a mixed outlook.
Technical outlook:
AUD R1: 0. 7280 S1:0.7120
R2: 0.7290 S2: 0.7100
Chart pattern signals bear note for the day .Trading range is expected between 0.7130-0.7270 levels .Stochastic and momentum are seen flat . Currency is seen trading above the moving average giving a mixed outlook.
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