AUD Trading Outlook (08-05-2012)

Australian Dollar (AUD) the range break to the downside was in danger of reversing yesterday with the market rallying from 1.0120 to 1.0220 in the European/US session. The outlook is for more negativity but there is expected to be two-way action on most days even if we enter a downtrend. Looking ahead, March Trade Balance forecast at -1400mn vs. -480mn previously.

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