AUD Trading Outlook (21-08-2012)

Australian Dollar (AUD) had a slightly positive day rising up to 1.0470 before consolidating in quiet trade. The heavy selling on Friday has spooked the bulls and we could struggle to get back above 1.0500 in the current environment waiting for fresh direction. AUD/JPY is stalling at Y83 but is still well supported for now. Looking ahead, RBA Meeting minutes from the August meeting.

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