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24 Dec 2014
AUD/NZD drops below 1.05 handle
FXStreet (Mumbai) - The Aussie edged down against the New Zealand dollar today, extending declines for the second straight session.
The AUD/NZD pair now trades at 1.0492 levels, down -0.18% on the day, after hitting day’s high at 1.0516 levels in the early Asian morning. The Aussie is expected to remain pressured versus the New Zealand counterpart on resurfacing fears over Chinese growth after prices of iron for construction fell in China amid weak demand from the property sector. Adding to the downside in AUD/NZD pair, Australia's premier warned of heightened "terrorist chatter" during Christmas and New Year celebrations, following the siege in a Sydney cafe a week ago.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0531 (Dec 19 High) levels, above which gains could be extended to 1.0588 (Dec 18 High) levels. On the flip side, support is seen at 1.0471 (Dec 19 Low) levels, below which it could extend losses to 1.04 levels.
The AUD/NZD pair now trades at 1.0492 levels, down -0.18% on the day, after hitting day’s high at 1.0516 levels in the early Asian morning. The Aussie is expected to remain pressured versus the New Zealand counterpart on resurfacing fears over Chinese growth after prices of iron for construction fell in China amid weak demand from the property sector. Adding to the downside in AUD/NZD pair, Australia's premier warned of heightened "terrorist chatter" during Christmas and New Year celebrations, following the siege in a Sydney cafe a week ago.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0531 (Dec 19 High) levels, above which gains could be extended to 1.0588 (Dec 18 High) levels. On the flip side, support is seen at 1.0471 (Dec 19 Low) levels, below which it could extend losses to 1.04 levels.