FX.co ★ AUD/USD Buy Above 1.0350 For September 12, 2012 (Daily Strategy)

The Australian dollar was under pressure of unfavorable news from China for the last two weeks, trading at 1.0180. The dollar’s recovery led the pair to the level of 1.05. By the end of the month the currency is expected to extend towards 1.08, although it is possible that there will be a correction. For this reason, we recommend buying with the target placed at the support level of 1.0490.

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