Umair, The ongoing optimism due to Greece bailout and later release of surprisingly positive business data from Germany should help AUD. Improved economic condition in China and release of liquidity by slashing of its cash reserves is positive development for Australian export, as China is a major importer of Australian goods. Furthermore, Australian economy is healthy and so far inflation is within target. So 1.0665 is the support level for AUD a break would encourage for a test of Key Support around 1.0610-20. Only break here would encourage for more fall. I suspect 1.0650 would easily surrender and favor a test and break of 1.0720 for 1.0755……..GL for Next Week. Asad
EURO and GBP are expected to gain more and AUD is expected to be range bound- so we could see eithewway moves in EURO/AUD and GBP/AUD.When EURO,GBP and AUD move downward you can buy and sell the crosses when EURO and GBP alone rise.
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