AUD Trading Outlook
The Australian Dollar (AUD) tested 1.0200 before falling on a combination of year-end profit taking and weak Chinese PMI data 54.4 vs. 55.3 previously. Support was found at 1.0140 and the pair finished on a firm footing. Overall the AUD/USD traded with a low of 1.0117 and a high of 1.0200 before closing the US session at 1.0170.
The Australian Dollar (AUD) broke above 1.0100 at the height of the USD weakness and avoided much of the USD strength in the US session. AUD/JPY is also outperforming holding above Y83 while traders support the high yielding commodity currency. Overall the AUD/USD traded with a low of 1.0053 and a high of 1.0154 before closing the US session at 1.0105.
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