Forex: Pacific pairs drift downward, USD main theme

on January 07 2010 9:59 PM

FXstreet.com (London) - The AUD and NZD both have traded downward so far this session as Dollar strength dominates market themes. Pair had previously been supported by firm gold prices, but with bullion coming off, pair has retreated to the downside.

AUD is currently trading down around 30 pips in early trade against the Dollar, without encountering significant support or correction. Aussie trades at 0.9152 and the Kiwi quotes at 0.7312, down around 15 pips.

Next supports should be encountered soon, for AUD/USD look to 0.9110 (low 6 Jan), and for NZD/USD, take 0.7275 (consolidation level 31 Dec) and after that 0.7200, (low 4 Jan).

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