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AUD/NZD off fresh 4-year lows below 1.19

FXstreet.com (Barcelona) - AUD/NZD is last at 1.1887, off fresh weekly and multi-year lows at 1.1865, printed on the back of Aussie weakness, as Kiwi has been about flat for the week so far, while AUD/USD is down -0.45% since previous weekly close Friday, near yesterday's weekly lows.

Besides expected volatility in USD/JPY by the Tokyo open as BoJ Kuroda will give a speech, which is lately driving Aussie too, there will be some minor data coming out for Australia in the form of Construction work done at 01:30 GMT and MI leading index 1 hour earlier. HIA New Home sales for Australia is tentative. IFR Markets maintain their view of a bottom developing in the cross, looking to buy a break above the 1.2030 level, analysts said.

Immediate support to the downside for AUD/NZD lies at recent session/weekly/4-year lows 1.1865, followed by mid-Sept 2008 lows at 1.1806, and March 2008 highs/Jan 2009 lows at 1.1750. To the upside, closest resistance shows at current levels as Monday's lows 1.1890, followed by Friday's lows/session highs at 1.1912, and yesterday's weekly highs/Thursday's lows at 1.1946.

AUD/USD looking for bids at previous lows set near 0.9590

It was a volatile day for the Aussie, at one point trading all the way up to 0.9695 before surrendering the majority of gains to finish near the lows down 27 pips at 0.9607 as the USD went bid across the board early in the New York session. The main catalyst for the USD strength was the better than expected Consumer Confidence number out of the US which came in at 76.2 vs. 71.0 estimates.
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EUR/AUD advanced again capped below 1.3450

After trading as high as 1.3445 early in the Asia session, the EUR/AUD was unable penetrate 1.3450 resistance level for a second day in a row as the pair edged slight much of the day to finish down 42 pips at 1.3376. Later in the session, we will see the AUD Construction Work Done figure due out at 1:30GMT.
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