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AUD/NZD range bound and neutral/bearish

FXStreet (Guatemala) - AUD/NZD is trading at 1.1113, up 0.03% on the day, having posted a daily high at 1.1125 and low at 1.1108.

AUD/NZD is changing hands on a bias towards the downside on attempts on the 1.11 handle while the Aussies defence is limited to a drift up into the 1.1120’s, albeit in an overall bull trend on the longer term time frames. There is limited data from both countries this week and the market will be very much driven upon a) the risk sentiment in respect of a slower global growth outlook currently and b) a continuation of expectations of the FED’s actions as we enter the end of year months as well as local central bank commentary from the RBA and RBNZ.

AUD/NZD noteworthy levels

Current price is 1.1114, with resistance ahead at 1.1125 (Daily High), 1.1137 (Daily 20 SMA) and 1.1150. Next support to the downside can be found at 1.1108 (Daily Classic PP) ahead of 1.1090 and 1.1050.

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