Fri, 29 Apr 2011 02:47:00 +0200

Forex: AUD/USD - withing striking distance of 1.1000

FXstreet.com (Barcelona) - AUD continues its immaculate rise and is currently close to reach another post float record. To achieve this new milestone, the pair should first breach yesterday's high at 1.0948. At present time pair is quoting at 1.0930, unchanged for the day after an earlier shy attempt to move higher.

Analysts at Compass Global Markets shared their take on the pair, saying: "The Aussie is within striking distance of the psychological 1.1000 level. A number of Australian trading banks have increased their forecast on the currency with the Commonwealth Bank revising their September 2011 target higher to 1.1200.”

“The international focus on the main event of the day, the Royal Wedding, in combination with the end of a big week in the markets will most likely see quiet trading today. However, the is always the possibility of sharp moves as liquidity is low. Domestically, there are no data releases today” the Compass Global Markets added.

Technical Analysis (2011-04-29 00:15 GMT)
AUD/USD 1.0932/1.0936 - O: 1.0761 H: 1.0767 L: 1.0756 C: 1.0761
Trend	R3: 1.0988
	R2: 1.0960
	R1: 1.0933
	S1: 1.0874
	S2: 1.0902
	S3: 1.0929