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5 Jul 2013
AUD/NZD initiates recovery attempt
FXstreet.com (New York) - The AUD/NZD technical cross rallied higher off yesterdays lows during the Asian session Friday, breaking into positive territory in recent minutes.
AUD/NZD break below 0.8470 signals bearishness
According to the BNZ Research Team, “The NZD is again the strongest performing currency of the past 24 hours as fading risk aversion allows fundamentals to retake the reins as the key driver of currencies.” Not surprisingly, this led to a pullback in the technical cross yesterday. However, Asian trading has seen the pair rebound off the 1.165 level in recent moments.
AUD/NZD long way until resistance
In light of this recent uptick, the AUD/NZD pair has now settled at 1.1690, establishing session highs thus far. Technically speaking, the pair remains well below resistances thus far, which are found at 1.1786, onto 1.1879, calculates the Mataf.net analyst team.
AUD/NZD break below 0.8470 signals bearishness
According to the BNZ Research Team, “The NZD is again the strongest performing currency of the past 24 hours as fading risk aversion allows fundamentals to retake the reins as the key driver of currencies.” Not surprisingly, this led to a pullback in the technical cross yesterday. However, Asian trading has seen the pair rebound off the 1.165 level in recent moments.
AUD/NZD long way until resistance
In light of this recent uptick, the AUD/NZD pair has now settled at 1.1690, establishing session highs thus far. Technically speaking, the pair remains well below resistances thus far, which are found at 1.1786, onto 1.1879, calculates the Mataf.net analyst team.