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AUD Trading Outlook (04-07-2011)

The Australian Dollar (AUD) was strong tracking the stock markets higher as one of the investor&rsquo s top choice for expressing risk appetite. Resistance was found towards 1.0800 before consolidating for the rest of the day. AUD/JPY is also strong above Y87 and could be poised for further gains if data and RBA decisions this week support. Overall the AUD/USD traded with a low of 1.0669 and a high of 1.0790 before closing the day at 1.0779 in the New York session.

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