Forex: AUD/USD opens higher at 0.9103 ahead of balance of trade report

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Published: Thu, 05 Nov 2009 01:15:00 +0100

Forex: AUD/USD opens higher at 0.9103 ahead of balance of trade report

FXstreet.com (Sydney) ? The Aussie bolted initially to trade at 0.9130 and has now settled around 0.9090. The Aussie is in a sideways trend with supports at 0.8900 and resistance at 0.9130.

While the expected rally after the RBA interest rates did not occur, further changes on the currency may depend on Balance of Trade report due out today. Nevertheless, the current upward trend is seen a correction with the long term view is still bearish. The All Ordinaries are currently down 13 points or -0.30% on the previous close.

By Fxstreet.com

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