AUD Trading Outlook (22-02-2011)

The Australian Dollar (AUD) was unable to find support from the large move higher in Oil and Gold as safe haven demand for USD overwhelmed. Stock markets are still a bigger factor in the setting the direction for the AUD/USD so US stocks today will be closely watched. Overall the AUD/USD traded with a low of 1.0071 and a high of 1.0160 before closing the day at 1.0080 in the New York session.

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