AUD Trading Outlook (10-05-2011)

The Australian Dollar (AUD) the Aussie did well tracking the stock markets higher and shrugging off the Euro weakness. Commodities led by Oil and Gold helped the Aussie to break briefly above 1.0800 but this level proved solid resistance. Overall the AUD/USD traded with a low of 1.0708 and a high of 1.0813 before closing the day at 1.0795 in the New York session. UPDATE March Trade Balance soars 1740mn vs. 438mn forecast.

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