FXstreet.com (London) - AUD is trading soft on thin year end volumes, and has consolidated in a tight range. In the final trading days of the year market players all seem to be on leave. Against the Dollar the Aussie is completely flat, trading at 0.8866/9
The continuous AUD uptrend this year has come from ever increasing gold prices, as investors ploughed into the historical crisis-hedge. Should the neutral trend be broken through unexpected news or flows, primary resistance should be taken as 0.8872 (upper bound of current range) and for support 0.8858 (lower bound of current range).
Gold prices have come off since the previous sessions highs of $1113, slipping over $10 earlier to currently trade at $1102. However AUD seemed relatively unaffected by the move, despite the strong correlation between Aussie and gold bullion.