AUD/USD range bound

FXstreet.com (London) - the higher beta pair, AUD/USD, is remaining in a tight range, oscillating between 0.9616/34 after a very short-lived spike higher to 0.9672.

However, the quote is sighted towards lower levels in a determined bear trend through 2012 lows and heading for 0.9400, the inter-year pivot. According to research teams at Commerzbank, ‘‘Currently, the market will remain directly offered below 0.9780/0.9842 (23.6% retracement of the sell off since April)’’.

Support is 0.9545 and 0.9495 targeting 0.9365

May 29, 2013

Commodities Brief – Precious metals maintain static levels, silver momentum building?

The yellow pushed slightly higher during the European session, ultimately failing to breach the 1400 resistance despite operating positively. A break above the handle’s resistance around 1400.00 may signal an upside reversal eying 1445.00, however a potential movement below the support at 1378.00 shall signal the continuation of the bearish wave targeting 1320.00 low. At the time of writing, the price of gold has fallen to intraday lows at USD $1385.23 per oz.

Flash: 10-year US treasuries find support – RBS

A major selloff of 10-year US Treasuries on increasing volume confirms a long-term bearish view.