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USD Trading Outlook (08-04-2015)

AUD/USD Oz held on to tentative gains as bulls and contrarians try their luck on the long side after yesterday’s key reversal (higher) in Australian short rates and Retail Sales beat. AUD managed to settle midrange but up on the day despite a broad USD advance led by weakness in EUR. AUDUSD needs to quickly recapture the 200 hma at .7650-60ish or risks killing any upside momentum the pair might have had. Bulls aren’t risking much, most have stops under today’s low at.7578.

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