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4 Mar 2014
AUD/NZD finds resistance at 1.0680
FXStreet (Córdoba) - The AUD/NZD finished slightly higher on Monday with a gain of less than 40 pips, around 1.0670. It was the first gain after losing ground in the previous four days.
In a few hours, at 03:30 GMT the Reserve Bank of Australia will announced it decision on monetary policy. No change is expected on rates but the statement could bring movements to the Aussie across the board.
AUD/NZD stabilizing after sharply decline
Last week the AUD/NZD 200 pips and bottomed at 1.0627 (February 28 low). It stabilized afterwards and during Monday, recovered ground but the upside was capped quickly around at 1.0680. Above the next resistance levels might lie at 1.0700 and 1.0735 (January 9, February 13 lows).
To the downside, immediate support could be located at 1.0645/50 (American session lows), below attention could turn to last week lows at 1.0625.
In a few hours, at 03:30 GMT the Reserve Bank of Australia will announced it decision on monetary policy. No change is expected on rates but the statement could bring movements to the Aussie across the board.
AUD/NZD stabilizing after sharply decline
Last week the AUD/NZD 200 pips and bottomed at 1.0627 (February 28 low). It stabilized afterwards and during Monday, recovered ground but the upside was capped quickly around at 1.0680. Above the next resistance levels might lie at 1.0700 and 1.0735 (January 9, February 13 lows).
To the downside, immediate support could be located at 1.0645/50 (American session lows), below attention could turn to last week lows at 1.0625.