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Forex: AUD/NZD finds support at daily low

FXstreet.com (Barcelona) - Having declined throughout todays trading, AUD/NZD looks to have found support at the low and started to edge higher.

The pair which has gradually declined since the start of the week shifted lower throughout the European and into the US session, registering a low at 1.2203. With the psychologically round key level below, spot looks to have found some support in the near term at least and has pushed higher to where it is currently trading at 1.2214. Hourly stochastics are at 19 and initially look to have turned just into oversold territory. RSI meanwhile is at 39 and looks set to continue ranging and hourly MA´s are hinting at some downside sentiment.

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