AUD Trading Outlook (04-03-2011)
The Australian Dollar (AUD) was well supported on AUD/JPY buying and stock market support but the market was not willing to test 1.0180 and is looking fatigued after heavy gains in recent months. The RBA is well ahead of other central banks in the tightening process and given the recent flooding may be less likely to continue the cycle. Overall the AUD/USD traded with a low of 1.0112 and a high of 1.0191 before closing the day at 1.0135 in the New York session.
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