FXstreet.com (San Francisco) - The Australian and New Zealand dollars are edging higher at the start of trading this Monday, following a positive close in the U.S. market Friday.
AUD/USD has edged up to a fresh 3-day high of 1.0490 ahead of the Tokyo opening on a spike up in US futures, last at 1.0480 from 1.0470 late Friday. As Sean Lee, Editor at ForexLive comments: "Resistance should be solid in the AUD/USD at 1.0525."
The kiwi also holds a bid tone following February trade data, as NZD/USD gains moderately, also toa 3-day high of 0.8191 from 0.8178 late Friday, last quoted at 0.8185. Major reactions in the Kiwi to the better-than expected data were subdued in the midst of low-liquidity trading. If bulls continue their advance, resistance is noted at 0.8215
AUD/USD has edged up to a fresh 3-day high of 1.0490 ahead of the Tokyo opening on a spike up in US futures, last at 1.0480 from 1.0470 late Friday. As Sean Lee, Editor at ForexLive comments: "Resistance should be solid in the AUD/USD at 1.0525."
The kiwi also holds a bid tone following February trade data, as NZD/USD gains moderately, also toa 3-day high of 0.8191 from 0.8178 late Friday, last quoted at 0.8185. Major reactions in the Kiwi to the better-than expected data were subdued in the midst of low-liquidity trading. If bulls continue their advance, resistance is noted at 0.8215
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.
Read more: http://community.nasdaq.com/News/2012-03/forex-aud-nzd-touch-3day-highs-in-early-asia.aspx?storyid=129538#ixzz1qAxzcYlH
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