AUD Trading Outlook (08-03-2011)
The Australian Dollar (AUD) came under heavy selling pressure as sentiment soured in the US session and the Aussie failed to make fresh highs. Many analysts are calling the AUD rally over and very wary of a correction after 2 weeks of range trading. Stock markets as always will be key for the AUD&rsquo s direction. Overall the AUD/USD traded with a low of 1.0088 and a high of 1.0187 before closing the day at 1.0125 in the New York session.
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