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AUD, NZD both higher in early trade

By Sean Lee  || August 23, 2009 at 21:43 GMT
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Not much information on market flows so far this morning so I’m left to surmise on what’s moving the market. Early buying flows in AUD/JPY and NZD/JPY look like the culprit in thin markets, with NZD/USD now fast approaching it’s .6885 high from last week where there are bound to be some stops. Next resistance above there is the major 61.8% retracement level at .6945. AUD/USD has a bit more work to do, currently at .8375, before challenging its recent highs at .8475.

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