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19 Feb 2014
AUD/NZD posts highest daily close in a month, still below 1.0900
FXStreet (Córdoba) - The Aussie achieved important gains versus the Kiwi and finished at the highest level since January 2. The AUD/NZD closed around 1.0870, with a gain of 70 pips after bouncing from 1.0830 on European hours.
The pair peaked at 1.0884, 1-week high at the beginning of the American session and pulled back being unable to climb back above 1.0880; and retreated to 1.0870 near the end of the day.
AUD/NZD levels to watch
Above 1.0880 attention will turn to the key resistance level that lies at 1.0900. The Aussie traded above the mentioned level repeatedly early in February but it was not able to confirm a break; if that happens, the outlook for the short-term could turn bullish.
To the downside immediate support lies at 1.0850 and below here at 1.0830 and 1.0770.
The pair peaked at 1.0884, 1-week high at the beginning of the American session and pulled back being unable to climb back above 1.0880; and retreated to 1.0870 near the end of the day.
AUD/NZD levels to watch
Above 1.0880 attention will turn to the key resistance level that lies at 1.0900. The Aussie traded above the mentioned level repeatedly early in February but it was not able to confirm a break; if that happens, the outlook for the short-term could turn bullish.
To the downside immediate support lies at 1.0850 and below here at 1.0830 and 1.0770.