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AUD Trading Outlook (11-07-2011)

The Australian Dollar (AUD) fell back heavily on the weaker than expected US jobs data and subsequent weak stock market moves. Support was found near 1.0700 but the market was greeted with strong Chinese inflation data over the weekend which could prompt heavy liquidations if tightening fears grip in Monday trade. Overall the AUD/USD traded with a low of 1.0699 and a high of 1.0788 before closing the day at 1.0745 in the New York session.

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