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AUD/NZD stalled at 5-year lows

FXstreet.com (Chicago) – AUD/NZD has not been able to get out from 5-year lows even though parallel action indicates the existence of bids that sustain the pair extending a flat wave that now lasts almost three days.

AUD/NZD Technical Levels

Price action reveals the pair remains subdued to a stronger kiwi that was recently fueled on better than expected NZ data. Around 5-year lows, the pair is offered at 1.1130 and oscillates between the supports aligned at 1.1072 (June 10th 2007 lows), 1.0994 (October 19th lows 2008) ahead of 1.0920 (December 20th 2006 lows) and the resistances set at 1.1145 …read more