The Australian dollar slid for a second day as regional stocks and commodities tumbled on concerns about the depth of the global recession. The currency weakened after their central banks slashed interest rates amid falling prices for commodities and equities as the industrialized world enters a synchronized recession.
tech view march 30 2009
AUD R1: 0. 6960 S1:0.6710
R2: 0.6980 S2: 0.6700
Chart pattern shows the currency to have sideways movement for the day. .Trading range is expected between 0.6750-0.6940levels .Stochastic is seen trending down giving indication of a bearish consolidation for the day.
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