AUD Trading Outlook (03-03-2011)
The Australian Dollar (AUD) bounced off lows in the Asia Session to rally back to 1.0180 resistance before settling into the close. Q4 GDP was strong at 0.7% vs. 0.6% forecast. The recent uptrend is in danger of running out of steam as fresh highs fail to emerge and risk events increase around the world. Overall the AUD/USD traded with a low of 1.0083 and a high of 1.0185 before closing the day at 1.0160 in the New York session.
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