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28 Feb 2014
AUD/NZD under pressure, back below 1.0700
FXStreet (Córdoba) - After posting the lowest daily close in a month, the AUD/NZD is moving toward yesterday’s lows after the release of the ANZ Business Confidence in New Zealand. The pair dropped more than 70 pips on Thursday after ending around 1.0710.
AUD/NZD closing price suggest weakness
On European hours the AUD/NZD bottomed at 1.0665, the lowest price since January 30 but rebounded and rose back above 1.0700. The recovery failed to climbed back above the key 1.0730, that has capped the downside in February and several times during December and January. The daily close under 1.0730 configures a sign of weakness.
The pair is now trading near Thursday's lows at 1.0680, headed toward the fourth daily decline in a row.
AUD/NZD closing price suggest weakness
On European hours the AUD/NZD bottomed at 1.0665, the lowest price since January 30 but rebounded and rose back above 1.0700. The recovery failed to climbed back above the key 1.0730, that has capped the downside in February and several times during December and January. The daily close under 1.0730 configures a sign of weakness.
The pair is now trading near Thursday's lows at 1.0680, headed toward the fourth daily decline in a row.