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AUD Trading Outlook (06-04-2011)

The Australian Dollar (AUD) tested support below 1.0300 briefly in Europe but buying returned with the upswing in US stocks to push the Aussie back to familiar levels. The RBA held at 4.75% as widely expected and released a neutral statement. AUD/JPY enjoyed the push up to Y88 on the back of Yen selling. Overall the AUD/USD traded with a low of 1.0287 and a high of 1.0368 before closing the day at 1.0335 in the New York session.

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