AUD Trading Outlook (12-07-2011)
The Australian Dollar (AUD) broke lower under 1.0700 in Asia and added to the losses in the US session hitting support under 1.0650 before bouncing. AUD/JPY fell heavily and is heading towards Y85 a major medium term support. Overall the AUD/USD traded with a low of 1.0625 and a high of 1.0729 before closing the day at 1.0650 in the New York session. UPDATE June Business Confidence at 0 vs. 6 previously.
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