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AUD/NZD near 1.1300 ahead of key events in Australia

FXStreet (Córdoba) - AUD/NZD is slightly lower on Monday, trading below 1.1300 ahead of the RBA decision and before economic data from Australia.

The pair opened the week with a bearish gap. During the Asian session bottomed at 1.1292 but then turned to the upside, trimming losses. On American hours closed the gap, after rising to 1.1280 but then pulled back to 1.1240.

AUD/NZD and the 1.1300 area

Last week the pair posted importante gains and reached at 1.1300, the highest price in almost a year. The area around 1.1300 has become an important resistance lately.

During August, September and October, traded above 1.1280 but failed to break 1.1300. The next few days, there will be important data from Australia and New Zealand and that level is likely to be tested. A break higher could open the doors for further gains.

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