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- Aussie has made a high of 0.7847 on 1st Oct and declined till 0.7000 from that level. It is currently trading around 0.7068.
- Market RBA rate decision for further direction which is to be held on Tuesday (Oct 6th). RBA is expected to keep its interest unchanged at 2% as a weaker Australian dollar provides support to economy.
- Technically Aussie is facing strong resistance around 0.7085 and any break above targets 0.7148.
- On the downside major support is around 0.7000 and any break below will drag the pair further down till 0.6935/0.6900.
It is good to buy at dips 0.7035-40 with SL around 0.7000 for the TP of 0.7148.
