FXstreet.com (London) - Aussie opened at 0.9146 in early Asian trading. The AUD has suffered continued losses in recent trading as gold shed gains significantly and AUD followed.
Gold topped out recently at $1226/ troy oz and currently trades at $1161.51. Any move in AUD this session will be technical as investors look to Eurozone and US for further indications of the strength of the global economy, through consumer spending and employment data.
AUD is a high-yielding currency, and forms a large part in the carry trade, in which investors borrow a low yield currency to fund the purchase of a high yield currency.
AUD/USD currently trades at 0.9148/51. After slipping in earlier trading AUD regained ground and now lies unchanged. In the case of an unexpected breakout during Asian trading, we see support at the 0.9025 and after that 0.8800, and for the resistance 0.9220 followed by 0.9280. These barriers are supported by the MAs as commented by Kshtiji Strategy Team in this technical report.