The Australian dollar is trying to stabilize after the six days fall. Today published Business Confidence Index in Australia has reached the maximum values for the past three months. Such favorable business conditions were last observed in early 2008.
However, the excellent macroeconomic incentives were enough only to raise AUD/USD to 0.7938. But the pair quickly moved to the support area of 0.7910/00. On the hourly chart we see a downward dynamics, but for a deeper correction we need a breakthrough of 0.79.
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