AUD Trading Outlook (08-10-2012)
Australian Dollar (AUD) the AUD/USD is struggling to keep up with the Euro and we had another round of selling on Friday. The market hit highs at 1.0270 and after a few failed attempts reversed direction. The sellers took the pair all the way down to fresh lows under 1.0160. The bears are being fueled by increasing focus on the slowdown in China and RBA cutting rates and being more vocal on the AUD exchange rate. The bulls are supported by Australia’s AAA rating and higher yield.
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