Australian Dollar jumped as positive stocks, commodities and gold all combined to help the AUD rally over 1 cent to 0.7240. The deterioration seen on local economic data will be key as to whether the AUD remains as the global risk currency.
Technical Outlook:
R1: 0. 7250 S1:0.7040
R2: 0.7260 S2: 0.7030
Chart pattern signals bearish movement for the day .Trading range is expected between 0.7070 - 0.7240 levels .Momentum and stochastic are seen trending down Currency is trading on the moving average level and parabolic is supporting the bear note.
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