20 Jan 2014
AUD/NZD extends recovery above 1.0640
FXstreet.com (Córdoba) - The AUD/NZD is rising for the second session in a row and recently reached a fresh daily high at 1.0673. The Aussie is recovering after falling on Thursday's to 8-year low at 1.0541. Since then it has risen over a hundred pips.
AUD/NZD on the road to recovery
On Friday, on the back of a weak Kiwi, the AUD/NZD managed to climb back above 1.0600. The recovery from the lows was capped at the short-term resistance at 1.0640 and since the last European session the pair moved in a range below the mentioned resistance and above 1.0600.
Recently the pair broke above 1.0640 and jumped to 1.0672. At the moment of writing is trading at 1.0650, up 0.26 for the day.
Despite Friday's recovery the AUD/NZD finished last week with a loss of 200 pips, posting the lowest weekly close since November 2005.
AUD/NZD on the road to recovery
On Friday, on the back of a weak Kiwi, the AUD/NZD managed to climb back above 1.0600. The recovery from the lows was capped at the short-term resistance at 1.0640 and since the last European session the pair moved in a range below the mentioned resistance and above 1.0600.
Recently the pair broke above 1.0640 and jumped to 1.0672. At the moment of writing is trading at 1.0650, up 0.26 for the day.
Despite Friday's recovery the AUD/NZD finished last week with a loss of 200 pips, posting the lowest weekly close since November 2005.