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AUD Trading Outlook (28-06-2011)

The Australian Dollar (AUD) risk aversion and stock market weakness is hurting the Aussie in recent sessions after breaking 1.0500 support. Commodities have been under a lot of pressure lately with Oil leading the way down and Gold also being liquidated. Concerns over China growth cool down is adding to the uncertainty with the unshakeable Aussie bulls now under pressure. Overall the AUD/USD traded with a low of 1.0389 and a high of 1.0473 before closing the day at 1.0465 in the New York session.

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