AUD Trading Outlook (13-02-2013)
Australian Dollar (AUD) the Aussie reversed aggressively yesterday after finding support at fresh trend lows near 1.0230. The short squeeze has continued so far in Asia with stops being hit up to 1.0360. February Westpac consumer sentiment showed a surge of 7.7% vs. 0.6% previously and surprised the market. The negativity seen over the last two weeks has been linked to large EUR/AUD buying but this has slowed in recent sessions and last night reversed from 1.3100 resistance.
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