AUD Trading Outlook (27-05-2011)

The Australian Dollar (AUD) pushed higher above 1.0600 with support from the improving risk appetite and supportive comments from RBA deputy governor talking up Australian banks. The outlook is improving for the AUD as solid support was found below 1.0500. Overall the AUD/USD traded with a low of 1.0508 and a high of 1.0650 before closing the day at 1.0625 in the New York session.

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