AUD Trading Outlook (11-05-2011)

The Australian Dollar (AUD) was very strong rallying after impressive March Trade balance numbers (1.7bn vs. 0.4bn Forecast) and a positive change in investor sentiment. Resistance at 1.0800 was broken and tested 1.0850 by the US close. Overall the AUD/USD traded with a low of 1.0735 and a high of 1.0851 before closing the day at 1.0740 in the New York session.

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