Forex: AUD/CAD down to 3-week lows below 1.0550

FXstreet.com (San Francisco) - After falling around 55 pips in the latest couple of hours from 1.0590, the AUD/CAD has broken down the 1.0550 support to reach the lowest level since March 12 at 1.0540. Currently the pair is trading at 1.0550.

Below the 1.0540 level, next supports are at 1.0500 and 1.0465. On the upside, resistances are at 1.0590, 1.0600 and 1.0630.

Apr 4, 2013

Forex: AUD/USD threatening 1.0400

The Aussie dollar is hovering over the key support of 1.0400 on Thursday, extending its correction lower almost one big figure since Wednesday’s highs in the boundaries of 1.0500, despite the upbeat data...

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Apr 4, 2013

Commodities Brief – Precious metals fail to move on Central Banks

Gold prices have been the forgotten variable in todays equation, which focused almost exclusively on currency markets. Indeed, the action surrounding the BoJ and ECB have roiled currencies, which have subsequently left the yellow metal trading in a virtual sideways consolidation. Having failed to pare any of this weeks losses, gold prices now remain in negative territory during consecutive days to trade at USD $1548.54 per oz. during US trading. Following Ben Bernanke’s remarks, gold will attempt to stabilize above the 1540 support, as a plunge below this figure could resume the downtrend, which has seemingly yet to show signs of bottoming out.

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