AUD Trading Outlook (06-10-2010)
The Australian Dollar (AUD) fell sharply after the RBA held interest rates at 4.5% counter to expectations of a 0.25% rate hike. August retail sales rose 0.3% vs. 0.4% forecast as well and the Aussie tested day lows of 0.9540 in Europe. When Support was found and stocks extended gains the Aussie turned aggressively bullish and closed above 0.9700. Overall the AUD/USD traded with a low of 0.9540 and a high of 0.9728 before closing the US session at 0.9720.
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