AUD Trading Outlook (07-05-2012)

Australian Dollar (AUD) the AUD/USD broke the two month range to the downside on Friday breaking below 1.0200 and is targeting party at 1.0000 in coming sessions. Most are looking to sell on rallies with stocks and the EUR/USD also under pressure and the RBA likely to continue cutting rates in coming meetings. UPDATE April Retail Sales +0.9 vs. 0.3% previously.

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