AUD Trading Outlook (08-02-2011)

The Australian Dollar (AUD) found resistance at 1.0160 on multiple occasions but with stock markets stronger the Aussie remained well supported. December Retail Sales came out at 0.2% vs. 0.4% previously. Overall the AUD/USD traded with a low of 1.0102 and a high of 1.0163 before closing the US session at 1.0135. UPDATE January Business Confidence at +4 vs. -3 previously.

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