AUD Trading Outlook (26-04-2012)

Australian Dollar (AUD) the AUD/USD is rallying with global stocks and is ignoring the looming rate cut coming next Tuesday to once again be well supported. Resistance is seen at 1.0400 and 1.0450 if the rally was to continue tonight. The AUD/NZD cross fell today after the RBNZ held at 2.5% and kept a hawkish outlook in contrast to other central banks. Looking ahead, BOJ Rate meeting tomorrow forecast to hold rates at 0.1%.

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