The Australian Dollar (AUD) the market reversed from fresh highs and broke back under 1.0500 as Oil fell $5 a barrel and AUD/JPY slumped. The market has been heavily long and profit taking could be substantial if negative sentiment continues. Overall the AUD/USD traded with a low of 1.0450 and a high of 1.0551 before closing the day at 1.0526 in the New York session.
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