Australian Dollar broke above 0.6600, running up to the resistance at 0.6640 before running out of steam. AUD is supported by stronger commodities and is taking full advantage of the recent improvement in investor confidence to build a base at the 0.6300 level. Looking ahead for RBA minutes for the March minutes.
Technical Outlook:
R1: 0. 6650 S1:0.6550
R2: 0.6670 S2: 0.6540
Chart pattern signals mixed outlook for the day .Trading range is expected between 0.6560 - 0.6640 levels. Parabolic and stochastic are raising keeping bull trend intact but caution is given by falling momentum.
R2: 0.6670 S2: 0.6540
Chart pattern signals mixed outlook for the day .Trading range is expected between 0.6560 - 0.6640 levels. Parabolic and stochastic are raising keeping bull trend intact but caution is given by falling momentum.
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