Yesterday: Open 1.0624 High 1.0665 Low 1.0570 Close 1.0632
Aussie currency yesterday that a sharp correction occurred up to 90 pips from its highest level at 1.0665 daily.
After reaching its lowest level daily at 1.0570, the movement of the Aussie currency rebounded by 60 pips to the daily closing level of 1.0632.
When this movement is still strong Aussie looks bullish but needs to watch out Kareena stochastic indicator conditions that are in overbought area.
The focus of economic data today for the Aussie currency is:
1. AUD MI Inflation Expectations at 8:00 pm
If the price increase that continues then the opportunity to 1.0716 and 1.0665 resistance level.
We recommend that if a decline continues then the price can reach the support level of 1.0570.
Prices shown on the graph H1 line MA05 and MA10 are still in strong bullish condition.
While the Stochastic indicator indicating the bearish conditions, vigilant correction occurs.