AUD Trading Outlook (17-04-2012)

Australian Dollar (AUD) the AUD/USD hit day lows as the EUR/USD tested 1.3000 before reversing with the major’s short squeeze. Traders sold into the rally though which was capped at 1.0380 and we are once again coming under selling pressure going into Tuesday Asian trade. The outlook is for more losses as the slowdown in China becomes more prevalent. Looking ahead March RBA meeting minutes released.

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