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10 Mar 2014
AUD/NZD falls to 1-week lows
FXStreet (Córdoba) - The AUD/NZD fell for the second day in a row on Monday, making a strong reversal, after reaching on Friday at 1.0758 a 1-week high. Since then the pair has been moving constantly to the downside, falling more than a hundred pips.
On Monday the pair opened below 1.0700, rose quickly back above closing a downside gap, but resumed the downside, accelerating the decline on New York, when it broke below 1.0655 (March 4, 5 lows). After the Wall Street closing bell the AUD/NZD fell further and bottomed at 1.0638 reaching the lowest price since March 3.
The decline that suffered the AUD/NZD in the last hours, attributable in part to weak economic data from China and ahead of RBNZ decision on Thursday, brought the price near February lows that lie at 1.0627. Below the next potential support level could be located at the 1.0600 zone and below here at 1.0560/65.
On Monday the pair opened below 1.0700, rose quickly back above closing a downside gap, but resumed the downside, accelerating the decline on New York, when it broke below 1.0655 (March 4, 5 lows). After the Wall Street closing bell the AUD/NZD fell further and bottomed at 1.0638 reaching the lowest price since March 3.
The decline that suffered the AUD/NZD in the last hours, attributable in part to weak economic data from China and ahead of RBNZ decision on Thursday, brought the price near February lows that lie at 1.0627. Below the next potential support level could be located at the 1.0600 zone and below here at 1.0560/65.