Forex: AUD/USD prints fresh 5-week highs above 1.0450
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AUD/USD
FXstreet.com (Barcelona) - AUDUSD is currently shooting higher last at fresh 5-week highs 1.0459, once confirmed Obama gets re-elected. The pair dipped in early trade to session lows at 1.0410 when candidate Rommey started taking the lead, bouncing straight from there as Obama win looked more plausible.
Slightly retracing as these lines are written, Obama re-election means questioned by candidate Rommey FED's chairman Bernanke will continue heading the Federal Reserve and so the easing programs, which has resulted in US bonds spiking on strong demand, as well as gold fresh weekly highs around $1725, with USD all across the board selling off.
Tomorrow's key jobs Aussie data, along with ECB rate decision and up coming US fiscal cliff will now shift market focus.
Immediate resistance to the upside for AUDUSD shows at recent session/5-week highs 1.0461, followed by Sept 28 highs at 1.0475, and Aug 10 lows at 1.0492. To the downside, nearest term support lies at Aug 02 lows 1.0432, followed by Oct 18 highs/recent session lows at 1.0410/3, and Oct 25 highs at 1.0397.
Slightly retracing as these lines are written, Obama re-election means questioned by candidate Rommey FED's chairman Bernanke will continue heading the Federal Reserve and so the easing programs, which has resulted in US bonds spiking on strong demand, as well as gold fresh weekly highs around $1725, with USD all across the board selling off.
Tomorrow's key jobs Aussie data, along with ECB rate decision and up coming US fiscal cliff will now shift market focus.
Immediate resistance to the upside for AUDUSD shows at recent session/5-week highs 1.0461, followed by Sept 28 highs at 1.0475, and Aug 10 lows at 1.0492. To the downside, nearest term support lies at Aug 02 lows 1.0432, followed by Oct 18 highs/recent session lows at 1.0410/3, and Oct 25 highs at 1.0397.
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