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18 Sep 2014
AUD/NZD testing weekly lows
FXStreet (Córdoba) - The aussie managed to recover ground against the US dollar, but versus the kiwi fell for the second day in a row. AUD/NZD ahead of the Asian session is testing weekly lows that lie around 1.1020.
The pair moved with a downside bias all Thursday after finding resistance yesterday at 1.1100.
Ahead of New Zealand general elections, AUD/NZD is falling for the second week in a row, as it continues to retreated from 2014 highs reached earlier in September at 1.1292. Since then it has fallen almost 300 pips. The area around 1.1000 - 1.1020 has become an important short term support.
The pair moved with a downside bias all Thursday after finding resistance yesterday at 1.1100.
Ahead of New Zealand general elections, AUD/NZD is falling for the second week in a row, as it continues to retreated from 2014 highs reached earlier in September at 1.1292. Since then it has fallen almost 300 pips. The area around 1.1000 - 1.1020 has become an important short term support.