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26 Apr 2013
Forex: AUD/USD higher on weaker USD and stronger commodities
FXstreet.com (Barcelona) - AUD/USD has recently printed fresh session highs at 1.0333, last at 1.0325, helped on broad USD selling and commodities higher, specially Gold, that climbs above the $1480 mark in the spot market, adding a +0.95% gain since closed in NY. The Aussie bounces from session lows at 1.0286, after retracing from yesterday's fresh weekly highs at 1.0340.
“ADM have made a better bid for Graincorp this morning, which has please the AUD market (in addition to the CNY strength),” reports ForexLive editor Eamonn Sheridan, adding: “Archer Daniels Midland (ADM) is a US grains company. Bid is worth around $3.4bn, and was improved this morning, seen as more likely to proceed,” Eamonn said. The move comes ahead of awaited 2nd BoJ meeting in April with new Gov Kuroda as chairman.
Immediate resistance to the upside for AUD/USD shows at recent session/NY highs 1.0333/40, followed by April 19 highs at 1.0356, and April 16 highs at 1.0400. To the downside, closest support lies at April 22 highs 1.0309, followed by April 16/session lows at 1.0289/6, and April 18 lows at 1.0269.
“ADM have made a better bid for Graincorp this morning, which has please the AUD market (in addition to the CNY strength),” reports ForexLive editor Eamonn Sheridan, adding: “Archer Daniels Midland (ADM) is a US grains company. Bid is worth around $3.4bn, and was improved this morning, seen as more likely to proceed,” Eamonn said. The move comes ahead of awaited 2nd BoJ meeting in April with new Gov Kuroda as chairman.
Immediate resistance to the upside for AUD/USD shows at recent session/NY highs 1.0333/40, followed by April 19 highs at 1.0356, and April 16 highs at 1.0400. To the downside, closest support lies at April 22 highs 1.0309, followed by April 16/session lows at 1.0289/6, and April 18 lows at 1.0269.