AUD Trading Outlook (02-07-2012)
Australian Dollar (AUD) the Aussie is a risk currency and so rallied dramatically on Friday up from parity to key resistance at 1.0240. The outlook is mixed with the recent interest rate cuts and Chinese slowdown leading many analyst to suggest a lower AUD but the stock market is the key driver so it will be watch for direction. A continued rally would see the medium term bull target of 1.0500 open up. UPDATE Q2 Japanese Tankan improves to -1 vs. -4 forecast and previously.
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