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AUD/NZD testing support above 1.1500

FXstreet.com (Barcelona) – The AUD/NZD foreign exchange cross rate is last trading at 1.1490 bids, off recent double weekly lows at 1.1478, retracing from yesterday’s/Friday’s double fresh 1-month high at 1.1607 printed on the back of Kiwi weakness.

AUD/NZD has room to move higher

According to FXWW founder Sean Lee: “AUD/NZD support levels start at 1.1465.” As for IFRMarkets the cross has room to move higher, “though last 2 approaches of 50-DMA/TC top met with reversals back below 10-DMA (1.1408)”, analysts said. AUD/NZD is still down more than -8% year to date.

AUD/NZD key technical levels

Immediate resistance to the upside for AUD/NZD …read more