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AUD/NZD depressed below 1.1650

FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1637, off recent session highs at 1.1675, and about flat from previous weekly close Friday.

AUD/NZD likely to test 1.1500

According to FXWW founder Sean Lee, “AUD/NZD has made fresh lows and looks likely to test 1.1500.” The cross has been closing lower 15 out of last 17 weeks, currently trading at such low levels not seen since late year 2008, down -7.29% year to date, mostly on the back of Aussie weakness.

AUD/NZD key technical levels

Immediate support to the downside for AUD/NZD lies at recent session lows 1.1605, followed by Friday's fresh 4.5-year lows at 1.1580, and April 2008 lows at 1.1500. To the upside, closest resistance shows at current levels as July 03/05 lows 1.1650, followed by recent session highs at 1.1675, and June 20 lows at 1.1728.

Flash: USD expected to consolidate this week – BBH

The recent US dollar uptrend began in mid-June, encouraged by anticipation of Fed tapering and the resulting wider interest rate differentials, notes the BBH Currency Strategy Team.
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EUR/JPY loses grip on 130.00 level

The EUR/JPY technical cross has fallen below the 130.00 level Monday, tumbling off an earlier high of 130.03 during Asian trading.
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