AUD Trading Outlook (14-08-2012)

Australian Dollar (AUD) the AUD/USD was under pressure as it became clear no Chinese stimulus was coming imminently and US stocks eased later in the day which added to the Aussie weakness. Support was once again found at 1.0500 where dip buyers emerged looking for the uptrend to continue. Looking ahead, July NAB Business Confidence previously at -3.

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