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Thomas Long, Course Instructor

A move down through the support level of 1156.70 could change the sentiment of traders, but the momentum right now is up. This bullishness could also mean strength for the AUD, as Australia benefits greatly from rising precious metal prices as they are a major supplier of gold to the world's markets.

Gold_body_64486d1282047346-chart-day-gold-818.png, Gold

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.