AUD Trading Outlook (16-05-2011)

The Australian Dollar (AUD) was one of the weakest currencies with the risk sensitive Aussie plummeting towards 1.0500 as sentiment towards the pair turned bearish with stocks. AUD/JPY and most crosses as seeing technical level broken in what could be a major correction. Overall the AUD/USD traded with a low of 1.0517 and a high of 1.0716 before closing the day at 1.0574 in the New York session.

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