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AUD Trading Outlook (27-08-2012)

Australian Dollar (AUD) the AUD/USD was hammered for a second day breaking 1.0400 before finding support at 1.0380 and bouncing into the US close. The weekend saw new announcement of major stimulus programs out of China but the market was in no mood to buy on Monday and quickly moved to new lows. The AUD has potentially entered into a new downtrend with the last two weeks of selling, but if Gold and Euro continue to push higher it unlikely that the Aussie will be left behind

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