Tuesday, January 12, 2010

Forex: Pacific pairs off year highs, risk appetite wanes

FXstreet.com (London) - The AUD and NZD both have traded to the upside midway through the Asian session. The two commodity currencies have proven resilient against the Dollar strength. Gold has traded flat this session, consolidating at around $1130 after its earlier freefall, and can be seen as effectively supporting the pairs.

AUD is currently trading just off session highs in early trade against the Dollar. Aussie trades at 0.9224 (+15 pips) and the Kiwi quotes at 0.7403 , up 20 pips on the session.

With risk appetite dampening previously these movements could represent some easing on that side. We find resistance for AUD/USD at 0.9260 (US session high), and for NZD/USD, take 0.7428 (US session high) and after that 0.7445, (year high).

AUD/USD (Jan 13 at 05:08 GMT)

0.9233/37 (0.37%)

H 0.9239 L 0.9185

[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Jan 13 at 04:53 (15-minute timeframe)

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