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AUD/NZD marches into 1.12 handle

FXStreet (Guatemala) - AUD/NZD is trading at 1.1226, up 0.78% on the day, having posted a daily high at 1.1239 and low at 1.1103.

AUD/NZD is now onto the 1.12 handle in a plight to take full advantage of the damage done through the Kiwi on comments from the New Zealand Prime Minister, Mr John Key, who said that he agreed with the RBNZ for their outlook on the kiwi, that it was overvalued and fair value is more like 65 cents. This coupled with the sales of the NZD reported recently in an official publication of extraordinary amounts equaling NZD521m, the bird’s had its wings clipped and here we are at back into positive territory and threatening the continuation of the daily bearish trend.

AUD/NZD noteworthy levels

Spot is presently trading at 1.1229, and next resistance can be seen at 1.1239, 1.1260, 1.1271 (Daily Classic R3) and 1.1312 (Weekly Classic R2). Support below can be found at 1.1227 (Weekly Classic R1), 1.1215 (Daily Classic R2), 1.1178 (Daily Classic R1), 1.1158 and 1.1142.

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