Australian Dollar had a volatile trading day with the China story hurting the pair pulling it back to support at 0.6400. Buoyant stocks helped the pair to recover off lows and heavy USD selling saw the 0.6500 level achieved. Consumer Sentiment dropped -0.2% in March vs. February. Looking ahead for Unemployment Change for February is forecast at -21.2K vs. 1.2K previously. February Unemployment is forecast at 5% vs. 4.8%.UNEMPLOYMENT CHANGE +1.8K. UNEMPLOYMENT RATE 5.2%.
Technical Outlook:
R1: 0. 6560 S1:0.6410
R2: 0.6570 S2: 0.6390
Chart pattern signals bullish movement for the day .Trading range is expected between 0.6420 - 0.6540 levels Stochastic is trending up giving bullish outlook and parabolic which is seen trending up but caution is given by falling momentum.
R2: 0.6570 S2: 0.6390
Chart pattern signals bullish movement for the day .Trading range is expected between 0.6420 - 0.6540 levels Stochastic is trending up giving bullish outlook and parabolic which is seen trending up but caution is given by falling momentum.
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