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21 Apr 2015
AUD/NZD keeps falling, eyes record lows
FXStreet (Córdoba) - The AUD/NZD pair is losing ground for the third day in a row and continues to move towers record lows and the parity level.
Price remained below 1.0100 during all day and bottomed on European hours at 1.0038, the lowest level since April 6,when it fell to a record low at 1.0018. The aussie weakened during the Asian session after the release of the Reserve Bank of Australia minutes, that left the door open to a rate cut.
Since April 13, AUD/NZD has fallen every day with the exception of last Thursday when it jumped supported by the Australian employment report. But less than two days after that, lost all gains and continued to slide.
The trend and momentum favors the kiwi but the area above the parity level seems like a strong support, that should not be broken easily.
Price remained below 1.0100 during all day and bottomed on European hours at 1.0038, the lowest level since April 6,when it fell to a record low at 1.0018. The aussie weakened during the Asian session after the release of the Reserve Bank of Australia minutes, that left the door open to a rate cut.
Since April 13, AUD/NZD has fallen every day with the exception of last Thursday when it jumped supported by the Australian employment report. But less than two days after that, lost all gains and continued to slide.
The trend and momentum favors the kiwi but the area above the parity level seems like a strong support, that should not be broken easily.