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The AUD struggles against the in demand YEN.

Written by Sam Coxhead on May 11th, 2012.      0 comments

5:35 PM (NZT) This pair has had an interesting week and is hovering around interesting support levels. Consolidation through the 80.00 support level is needed for another wave of AUD weakness to ensue. Japanese GDP and the RBA minutes will dominate the focus for the pair next week. Expect the Japanese authorities to continue to warn about YEN strength, and this should provide some level of support to this pair. If fears again increase in Europe the YEN will again see strong demand and the 80.00 level will be probed again.
 
The current interbank midrate is:                                                            AUDYEN   80.42                            
                                                               
The interbank range so far this week to date has been:                 AUDYEN 79.68 – 81.70              
 

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