Forex: Gold push higher, dollar consolidates

30 September 2009 @ 02:17 pm EDT

FXstreet.com (Buenos Aires) - Despite gold push higher past Wednesday, greenback managed to stay in range against major rivals, if we took commodity currencies out of the equation. With Wall Street slightly down regional shares markets are expected to move in tight ranges, and even lower, ahead of Thursday and Friday U.S. reports.

EUR/USD quotes around 1.4640, contained to the upside by 1.4680 area strong static area, and by 1.4600 38.2% retracement of daily 1.4190/1.4843 rally. GBP/USD back under 1.6000 after strong retreat from 1.6110 key resistance zone, needs to clear the 1.5920 level to regain downside strength.

Commodity currencies keep pushing higher, with AUD/USD reaching a fresh yearly high at 0.8846; supported by gold above $ 1000/oz, pair seems ready to test key 0.9000 level, as 20 SMA in the daily chart, remains acting as dynamic support for the pair.

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