AUD Trading Outlook (19-07-2012)

Australian Dollar (AUD) the AUD/USD broke higher above 1.0330 towards 1.0380 as stocks rallied and oil gained. EUR/AUD fell to a new record low and GBP/AUD is back towards 1.5000. The Australian currency is defying gravity lately shrugging off the weakness from China and instead tracking the US stock market rally.

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