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15 May 2013
Forex: AUD/NZD making fresh yearly lows to 1.2004 offered
FXstreet.com (London) - With plenty of negative sentiment for Australia, the bears in the market are enjoying a run on this pair to new fresh lows testing the 1.2000 handle in the US session.
It has rebounded slightly to 1.2020 at time of writing, but the momentum is still capping any pull backs with a strongly bearish outlook for the pair. 1.1979 comes in as next support line through the psychological handle of 1.2000 which may act as a tuff nut to crack. The market will be looking to the dollar crosses to offer an indication as to whether this pair continues towards territory last seen in 2009 or pulls back in line with a weaker USD. AUD: Support - 0.9820 Resistance - 0.9920 NZD: Support - 0.8150 Resistance - 0.8230
It has rebounded slightly to 1.2020 at time of writing, but the momentum is still capping any pull backs with a strongly bearish outlook for the pair. 1.1979 comes in as next support line through the psychological handle of 1.2000 which may act as a tuff nut to crack. The market will be looking to the dollar crosses to offer an indication as to whether this pair continues towards territory last seen in 2009 or pulls back in line with a weaker USD. AUD: Support - 0.9820 Resistance - 0.9920 NZD: Support - 0.8150 Resistance - 0.8230