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Money and Markets

Gold and Oil, AUD and CAD

Posted on January 12, 2010 at 13:30 in Short-Term Analysis by Valeria Bednarik

Gold and oil keep falling and so commodity currencies. Both are runnning fast, accelerating to key daily levels, and that could favor further dollar rises. Let’s see the trade balance reaction.

USD/CAD, jas the 38.2% retracement of the last daily fall qround 1.0380, ahead of the 1.0400 static level; daily close above that zone will favor stronger rises in the pair.

AUD/USD, already tested earlier today, and remains close to the base of an ascendant channel around 0.9200, also ready to break 20 SM in the 4 hours charts. Expect further falls under that level.

Tags: Aud, Cad, dollar, Forex

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