AUD Trading Outlook (16-03-2012)

Australian Dollar (AUD) the AUD/USD has been under pressure all week until the buyers finally sparked a short squeeze overnight and we saw a move back above 1.0500. The AUD/JPY is testing Y88 and a break here might drag the major higher as well as we have seen this effect in the past. Y90 is the bull’s next target and will spark talk in the market of the return of the carry trade.

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