AUD Trading Outlook (04-08-2011)

The Australian Dollar (AUD) the Aussie found support under 1.0700 after falling when local economic data missed. June Retail Sales fell -0.1% vs. +0.3% forecast m/m. AUD/JPY reacted to the USD/JPY intervention in Asia but the AUD/USD is struggling. Overall the AUD/USD traded with a low of 1.0677 and a high of 1.0787 before closing the day at 1.0740 in the New York session. Looking ahead, Quarterly RBA Monetary Statement.

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