AUD Trading Outlook (12-10-2011)

The Australian Dollar (AUD) the AUD/USD had interesting trade overnight with the pair testing 1.0000 three times but failing at each attempt at the critical level. The market finished on a weak footing and could now test support after finding such a strong resistance topside. The passing of a China Currency bill in the US could provoke a trade war with China though would be very negative for the AUD/USD.

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