6 Mar 2014
AUD/NZD fails to hold above 1.0700, again
FXStreet (Córdoba) - The AUD/NZD finished practically flat on Wednesday hovering around 1.0665. Early in Asia remains steady ahead of trade balance and retail sales data from Australia.
AUD/NZD and another failure above 1.0700
Yesterday after the release of Australian GDP data, the AUD/NZD rose to 1.0713 but failed to hold and retreated erasing all gains to trade back around 1.0660. It was the second day in a row that the pair was rejected from above 1.0700. The decline found support at 1.0655, that also capped the downside on Tuesday.
The pair continues to move with a sideways bias in the short-term, unable to consolidate above 1.0700 and with an important support at 1.0655.
AUD/NZD and another failure above 1.0700
Yesterday after the release of Australian GDP data, the AUD/NZD rose to 1.0713 but failed to hold and retreated erasing all gains to trade back around 1.0660. It was the second day in a row that the pair was rejected from above 1.0700. The decline found support at 1.0655, that also capped the downside on Tuesday.
The pair continues to move with a sideways bias in the short-term, unable to consolidate above 1.0700 and with an important support at 1.0655.