Sunday, May 3, 2009

Aussie dollar hits 7-mth peaks-May 04.

Australian Dollar traded back above 0.7300 as risk appetite pick up again. Strong Commodities and Economic data both added to buoyancy with the market now turning its attention to Tuesday’s RBA meeting.With R1: 0. 7400 ,R2: 0.7410 and S1:0.7230,S2: 0.7220.Chart pattern signals bullish trend for the day .Trading range is expected between 0.7240 - 0.7390 levels .Momentum and stochastic are seen trending up and Currency is also trading above the moving average level .

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