AUD Trading Outlook (22-07-2011)

The Australian Dollar (AUD) broke above resistance at 1.0800 as risk appetite surged post EU summit plan and is looking to 1.1000 in coming days. AUD/JPY is back above Y85 and is an important cross for providing fresh direction to the major. Overall the AUD/USD traded with a low of 1.0692 and a high of 1.0844 before closing the day at 1.0825 in the New York session.

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