FXStreet (Bali) – The Australian market appears to have been caught wrong-footed as per the reaction on the capex release, which came lower-than-expected for both Q1 and 2nd estimates of 2015/16.
There are likely to be more stop-loss runs with technicals showing that the sky looks fairly blue for the bears until 7550 from present levels, with stops being reported by market sources below 7680, which coincides with the 76.4% fib retrac of 0.7535-0.8165 run and low 21 April.
(Market News Provided by FXstreet)