AUD Trading Outlook (03-07-2012)
Australian Dollar (AUD) the AUD/USD was up and down all day in a 50 pip range around the 1.2040 level. The outlook is for more gains if stocks continue to fall with economic data recently strong from the commodity country after the RBA cut rates. The RBA meets today and is expect to wait before indicating if more cuts are needed after cutting at the last two rate meetings. Support is seen at 1.01800 if they are unexpectedly bearish. Looking ahead, RBA Rate Announcement forecast to hold at 3.5%.
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