AUDUSD in retreat still as the shiny stuff loses its sheen

Author: Mike Paterson | Category: News

Trying saying that headline after lunch 7 Dec

Soggy times for gold and that's also weighing on the aussie dollar again as a certain amount of risk sentiment returns.

Lows now of $1254.65, not seen since March, and 0.7521, not seen since late June.

The correlation has wavered this year as indeed have many others but certainly playing out at the moment. That said it's not the only reason for AUD failing to hold any rallies of note lately.

Some bids nearby at 0.7520 and larger between 0.7480-0.7500 but rally sellers poised too. Gold will have buyers into $1250 and large into $1200-20 so look for further acceleration should they break but expect a little support meanwhile.