FXstreet.com (Barcelona) - After falling to 0.7000 in the early American morning, the AUD/USD has risen around 100 pips to reach 0.7110 and test the 0.7100 level. Currently the pair is trading around 0.7105/15 after rising 0.55% so far today from opening price at 0.7064.
Valeria Bednarik, FXstreet.com collaborator, says: Commodities currencies are appreciating on dollar weakness more than own strength. Neither gold or oil move far prom yesterday's range, so, is sentiment what's driving the pair. Canadian dollar remains under the daily ascendant trend line broken past week, and with yesterday's candle formation, seems likely a bearish continuation against dollar. Australian dollar is also gaining bullish momentum in the daily chart, after failing to break under the 0.7000. commodity currencies tend to anticipate rest of the majors behavior. As long as mentioned trend remain valid, Euro rise and Japanese yen fall seems likely.
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