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AUD Trading Outlook (14-05-2012)

Australian Dollar (AUD) opened up Monday stronger on the Chinese Rate cuts but this was reversed sharply towards the parity level as the EUR/USD fell on Greece concerns. So far the 1.000 level has held and there has been strong support so far at the level. Stops are seen below but the sellers are also wary of a short squeeze as the AUD will rally on any good news. Looking ahead, March Australian Home Loans forecast at -1.7% vs. -2.5% previously.

Back to AUD Trading Outlook Archive

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