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14 Feb 2014
AUD/NZD stabilizes after sharp decline
FXStreet (Córdoba) - The AUD/NZD finished at the lowest level since January 30 at 1.0750/60, with a 85-pips loss affected by a disappointing jobs report in Australia. After the labor market data the pair fell from 1.0850 and bottomed during the European session at 1.0735; then bounced to the upside but found resistance at 1.0770.
AUD/NZD bearish again
Last week the pair tested levels on top of 1.0900 but it was unable to hold and formed a doji candlestick suggesting indefinition. When the Aussie appeared to be ready to test again 1.0900, but weakened and on Thursday accelerated to the downside losing 1.0800.
Momentum turned to the downside again, in line with the dominant trend. Immediate support lies at 1.0735 (February 13 low), 1.0705 (January 15, 20 highs) and 1.0670. To the upside resistance could be located at 1.0785, 1.0825 and 1.0875 (February 12 high).
AUD/NZD bearish again
Last week the pair tested levels on top of 1.0900 but it was unable to hold and formed a doji candlestick suggesting indefinition. When the Aussie appeared to be ready to test again 1.0900, but weakened and on Thursday accelerated to the downside losing 1.0800.
Momentum turned to the downside again, in line with the dominant trend. Immediate support lies at 1.0735 (February 13 low), 1.0705 (January 15, 20 highs) and 1.0670. To the upside resistance could be located at 1.0785, 1.0825 and 1.0875 (February 12 high).