AUD Trading Outlook (11-06-2012)

Australian Dollar (AUD) the AUD/USD had a volatile past 24 hours trading with the large drop on Friday putting traders on the wrong side of the news over the weekend and we saw the market open up to test AUD/USD 1.0000. The outlook is mixed with technical and rate cuts points to lower AUD/USD but the risk appetite and strong Chinese data prompting gains. A close above 1.0000 will be needed to encourage more aggressive buying. Looking ahead, no economic data today.

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