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AUD Trading Outlook (15-10-2012)

Australian Dollar (AUD) the AUD/USD tried to break 1.0300 at the same time as EUR/USD attempted to break 1.3000 on Friday during the European session. Both pairs failed and we have fallen back on Friday night and Monday morning to 1.0200 on the Aussie and looking to test with multimonth lows at 1.0150. Bonds are pricing in a 80% chance of a rate cut in November after the Reserve Bank Governor noted there was plenty of scope to mitigate a slowdown in growth.

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