Wednesday, August 26, 2009

AUD continues to recover intraday

Thu, Aug 27 2009, 02:37 GMT

The AUD/USD fell to a low of .8240 earlier but a combination of decent economic data and short term bears booking profits, succeeded in limiting losses and the pair has now popped back up towards it's opening level. The AUD is also making some modest gains against the NZD after nearly 15 consecutive days of losses. Most players feel that an AUD/NZD rate below 1.20 is probably hard to sustain in the current economic climate and the pair will now try and post consecutive daily lows at 1.2120.

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