AUD Trading Outlook (12-01-2012)

Australian Dollar (AUD) the EUR/USD and GBP/USD sell off in Europe sent the Aussie to day lows but AUD/JPY buying and general support for the high yielder recently allowed the pair to finish unchanged. The mild risk aversion is not proving as dangerous for the AUD/USD as in previous months and we would need to see sharp selling in the stock market to shake the longs out of the current market. EUR/AUD is now being watched by many analysts with the oversold signals hard to ignore.

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