Current rate – 0.72884 S1 – 0.70673 R1 – 0.73342
The Australian Dollar continues to oscillate in a now-familiar range below the 0.73 figure against its US counterpart after the RBA policy announcement failed to inspire volatility. Taking the longer view, prices appear to be carving out a symmetrical Triangle chart pattern, a setup favoring on-coming resumption of the dominant downward trend.
UPCOMING EVENT – ( CAD ) GROSS DOMESTIC PRODUCT
IMPORTANCE – HIGH
FORECEAST – 0.4% PREVIOUS – 0.9%