Australian Dollar was boosted further by commodity prices as well as the plan by US to buy bonds expected to further widen the differential in the yield between the two respective economies. The Australian dollar has also gained from the shift in sentiment and a return to risky assets.
Technical Outlook:
R1: 0. 6960 S1:0.6740
R2: 0.6970 S2: 0.6720
Chart pattern signals bull note for the day .Trading range is expected between 0.6750 - 0.6950 levels .Momentum and stochastic are seen trending up Currency has tested the upper bollingers and is expected to move further on bull note.
R2: 0.6970 S2: 0.6720
Chart pattern signals bull note for the day .Trading range is expected between 0.6750 - 0.6950 levels .Momentum and stochastic are seen trending up Currency has tested the upper bollingers and is expected to move further on bull note.
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