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USD Trading Outlook (24-04-2013)

It looks like it might soon be time to start easing back on AUD shorts with solid buying interest and some technical factors indicating that further losses in the very short-term might be very hard fought. Yesterday’s Chinese data sent the Aussie lower but that is very quickly forgotten in the FX market and all eyes now turn to the CPI data today. Overnight manufacturing data from the EZ was below expectations whilst this morning the RBNZ left rates unchanged as expected.

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