Australian Dollar kept to a tight range recovering early to test 0.6600 before a second wave of selling saw support at 0.6480-0.6500. The market finding support from a large rally in Gold overnight but risk aversion is capping gains in the short term.
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.
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