Australian dollar rebounds from the low of 0.875 as the day ended above 0.879 on the 127.2% of the downtrend Fibonacci Expansion support level.
The ascending triangle as highlighted with the red resistance and blue higher low gives rise to buying at the bottom calls to trade bullish once 0.887 is broken.
After hitting 0.876 AUD/USD retraced to contest 0.885 as resistance for the pair ranges slightly upwards with higher lows.
Australia’s private sector credit grew more than expected month on month as PPI grew as expected at 0.2% change month on month. The intraday movement looks firmly bullish as the higher lows gradually moves higher above 0.8800
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