AUD Trading Outlook (16-03-2011)
The Australian Dollar (AUD) the risk currency was battered over 200 pips as the market sold out of long position in a stampede. 1.0000 broke in Asia and then 0.9900 broke down in Europe along with the Key Y80 level on the AUD/JPY cross. The market recovered slightly in the US Close but still very vulnerable. Overall the AUD/USD traded with a low of 0.9813 and a high of 1.0099 before closing the day at 0.9900 in the New York session.
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