Forex: AUD/USD +30 pips, Gold supports

By IBTimes Staff Reporter | January 27 2010 10:15 PM

FXstreet.com (London) - The AUD and NZD both have moved to the upside in Asian trade today boosted by slightly firmer gold prices. Gold bounced from session lows of around $1082 to its current level, quoting flat on the day. AUD benefiting slightly more due to its tighter (than NZD) correlation to the commodity.

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AUD is currently trading bullish this session having pushed up 30 pips in trade against the Dollar. Aussie trades at 0.8987 and the Kiwi quotes at 0.7082, up 24 pips on the session.

In case of reversal we find support for AUD/USD at 0.8930 (intraday low), and for NZD/USD, take 0.7040 (intraday low) and after that 0.7025 (US session low Jan 26).

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