AUD Trading Outlook (15-10-2010)

The Australian Dollar (AUD) traded once more at fresh post float high and came within a whisker of breaking the much publicized parity level. Boosted by the Singapore Central Bank actions in Asia, the Aussie dollar found further support as China Gov&rsquo t officials indicated that it was unlikely rates would be raised within the year. As a result the AUD traded at a high of 0.9994 and a low of 0.9893 before closing the day at 0.9941. Anticipation surrounds on whether the Aussie dollar can finally break through the magical 1.0000 on Friday, a Bearish Bernanke could be the catalyst needed to break through the ceiling