AUD/NZD: Bounce potential off 1.0900 support

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    As we noted earlier today, the Australian dollar is edging higher on the slightly less-dovish-than-expected RBA statement, driving AUD/USD into resistance in the mid-.7100s. As you would expect though, the strength in the Aussie is impacting more than just AUD/USD; in fact, AUD/NZD is also bouncing from a critical support level. For nearly four months now, the antipodean pair has been clearly rangebound in the 500-pip range from 1.0900 to 1.1400 as traders weigh the relative monetary policies

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