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Australian Dollar Gets Hit Early

This morning, the Australian Dollar is coming under some selling pressure. The AUD/USD is trading lower 0.63 percent. Short term traders should look for intra-day support around the 1.0650, 1.0625, and 1.060 levels. The daily chart of the AUD/USD will have short term daily chart support around the 1.0430 area. Traders can also play the Australian Dollar by using the CurrencyShares Australian Dollar Trust (NYSEARCA:FXA).

Nicholas Santiago