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21 Apr 2014
AUD/NZD fails to hold above 1.0900
FXStreet (Córdoba) - The AUD/NZD rose on Monday and posted the highest daily close in four months but it was unable to hold above 1.0900. During the American session price reached 1.0910 but then pulled back to finished the day hovering around 1.0890/95.
AUD/NZD facing resistance at 1.0910
Last week the upside was capped by the 1.0910 level. If the Aussie extended the upside and climbs above it would be trading at the strongest level since January. Resistance above might lie at 1.0945 (February 4 high) and 1.0500. While support could be located at 1.0885 and below here at 1.0850 (April 18, 21 low).
The short term bias still favors the Aussie against the Kiwi, particularly if the price hold above 1.0850 where currently an uptrend line originated at March lows, stands.
AUD/NZD facing resistance at 1.0910
Last week the upside was capped by the 1.0910 level. If the Aussie extended the upside and climbs above it would be trading at the strongest level since January. Resistance above might lie at 1.0945 (February 4 high) and 1.0500. While support could be located at 1.0885 and below here at 1.0850 (April 18, 21 low).
The short term bias still favors the Aussie against the Kiwi, particularly if the price hold above 1.0850 where currently an uptrend line originated at March lows, stands.