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AUD/NZD hits 4-month lows

FXStreet (Córdoba) - AUD/NZD broke below 1.0935 and dropped to 1.0910, reaching the lowest price since July 24 as it continues to retreat after being unable to rise above 1.1300. Since the beginning of the month AUD/NZD lost almost 400 pips, on the back of a weak aussie.

Currently the pair trades around 1.0920, where a key support is located. The mentioned zone offered support earlier in November and also during September and August. If it consolidates below, it could open the doors for another slide.

AUD/NZD technical levels

To the downside, support level might lie at 1.0910 (daily low) and below here at 1.0875 (May 12, 15 high) and 1.0825. To the upside, resistance now could be seen at 1.0945, 1.0975 and 1.1020.

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