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AUD Trading Outlook (03-01-2012)

The Australian Dollar (AUD) the AUD/USD continued to be supported on Monday after a move up to the top end of its recent range on Friday. The outlook is improving with China economic data not slumping as much as feared and the RBA signaling it does not have to cut rates on local economic factors alone. The key resistance on the topside is 1.0500 and will be the bulls target if 1.0300 breaks today after a strong opening on in Asia Tuesday.

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