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17 Feb 2014
AUD/NZD breaks above 1.0800
FXStreet (Córdoba) - The AUD/NZD reached a fresh 2-day high at the beginning of the week at 1.0830 but lost momentum and pulled back. The retreated from the highs found support around the 1.0800 area. At the moment writing the pair was trading at 1.0810, up 0.16% for the day so far.
The first quote of the week was 40 pips above Friday’s closing price. The gap is still open. On Friday the pair never traded above 1.0800 and so far on Monday it momentarily reached levels under the mentioned level but bounced back above quickly.
Levels to watch for the AUD/NZD
To the upside immediate resistance lies at 1.0830 (daily high) and above at 1.0870 (last week highs); if the pair continues 1.0900 would become the next key level. to the downside, initial support is located at 1.0795/1.0800 and below here at 1.0770 and 1.0750.
The first quote of the week was 40 pips above Friday’s closing price. The gap is still open. On Friday the pair never traded above 1.0800 and so far on Monday it momentarily reached levels under the mentioned level but bounced back above quickly.
Levels to watch for the AUD/NZD
To the upside immediate resistance lies at 1.0830 (daily high) and above at 1.0870 (last week highs); if the pair continues 1.0900 would become the next key level. to the downside, initial support is located at 1.0795/1.0800 and below here at 1.0770 and 1.0750.