Forex: Gold +2$ early Asia, NZD/USD slid extends

By IBTimes Staff Reporter | January 19 2010 8:33 PM

FXstreet.com (London) - Gold has traded softly since Asian session opened up, gaining around $2. Bullion is moving in and out of favour as investors swing between riskier and safer assets. Gold trade just up this session, trading at $1138.72, after bouncing back from previous session lows of $1129.

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The Kiwi currently trades at 0.7316 against the Dollar, trending down from the open losing 15 pips. Pair will likely consolidate in range later this session in the absence of major macro cues. Both AUD and NZD have lost points against greenback this session, with gold providing little support for the pacific currencies.

Should the pair move to the upside take primary resistance as 0.7350 (correction area on previous fall), and for primary support at 0.7290 (Jan 8 Low).

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