AUD Trading Outlook (21-12-2011)
The Australian Dollar (AUD) the Aussie was the back overnight breaking above 1.0000 and surging to 1.0100 after opening under 0.9900 in Asia. The risk currency was supported by RBA minutes which suggest the December rate cut was only a precaution given the European downside risk and that economic data in Australia did not support it. The outlook is linked to stocks and if gains continue then 1.0250 resistance will come into view.
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