Australian Dollar had a busy day with the anticipated Employment data surprising to the topside with January actually producing 1.2K jobs vs. -20.5K forecast. The Unemployment Rate jumped to 4.8% vs. 4.5% though as more people entered the job market. This supported the pair in a test above 0.6600 but the market slipped and fell heavily as stocks slumped and news that the Australian Stimulus package had failed in the senate.
Technical Outlook:
R1: 0. 6660 S1:0.6490
R2: 0.6690 S2: 0.6480
Chart pattern signals sideways to bullish for the day .Trading range is expected between 0.6504 - 0.6640 levels Stochastic and momentum are seen trending up giving clues for slight upward correction and parabolic is also supporting the bull note.
R1: 0. 6660 S1:0.6490
R2: 0.6690 S2: 0.6480
Chart pattern signals sideways to bullish for the day .Trading range is expected between 0.6504 - 0.6640 levels Stochastic and momentum are seen trending up giving clues for slight upward correction and parabolic is also supporting the bull note.
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