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Forex: AUD/USD at session lows below 1.0480

By FXstreet.com,  January 07, 2013, 11:41:00 PM EDT

FXstreet.com (San Francisco) - The Australian dollar remains lower versus its US counterpart this evening, with the AUD/USD now trading near its 1.0474 session low. Australia's bond yields are lower for a second day as the nation reported further trade balance deterioration in November, its largest in four years.

Valeria Bednarik, Chief Analyst at FXstreet.com says: "Dips up towards 1.0390 could hardly harm the upward trend, and will mostly be seen as buying opportunities, while an acceleration above 1.0525 will see the pair approaching 1.0600 level over the upcoming sessions."

AUD/USD has so far shed all gains made overnight, with next bearish targets noted at 1.0430 and 1.0400, according to the analyst. Above 1.0525, upside moves may encounter offers at 1.0550 and 1.0600.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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